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Old 04-23-2018, 12:35 PM
 
1 posts, read 257 times
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Hello,

Can i sell my house for an price over the mortgage while it is in a foreclosure? There is already a auction scheduled. Would I still be able to list the house ? If wanted to accept non short sale offer what approval from the bank would be , What is the process of selling for a price more than the debt once in foreclosure?
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Old 04-23-2018, 01:04 PM
 
Location: Cary, NC
31,652 posts, read 55,416,037 times
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You don't need approval from the bank to sell your house as long as you own it and can pay them off.
You WILL need enough proceeds from sale, or additional funds available, to pay off any accumulated debt from liens or late payments.

How far out is the auction?
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Old 04-23-2018, 01:05 PM
 
Location: Saint John, IN
10,647 posts, read 3,333,649 times
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I think if you can sell your house for more than what you owe (including fees) then it would cancel the foreclosure. However, the bank will continue with the foreclosure proceedings and auction, they will not stop that to see if you can sell the property as you should have tried to do that prior. If you already have a buyer and you can prove to the bank that their funds are good and it will close then you might be able to get the bank to agree on a date that the sale needs to happen by (probably within 6 -8 weeks) and they might consider waiting on auction with sufficient evidence. That's a very big MIGHT!! At that time the foreclosure proceedings would be canceled as the loan would be satisfied and you would receive any funds remaining after.
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Old 04-23-2018, 01:51 PM
 
Location: Woodbridge, CT
46 posts, read 28,867 times
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If a sale of the home can satisfy all the debts against the property, yes you can sell it at any time, even while it is in foreclosure. As long as it has not foreclosed, the home beings to you and you can do what you like with it. Many times courts will also push back foreclosure sale dates if you in fact prove there is a sale at hand.
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