I have a family of 4; we are currently renting a house two doors from a house that is in foreclosure. Today is 11/07/2010, and the house survived the first auction has another auction date of 11/23/2010 and is also on the market as a short sale. Through the realtor a short sale offer was just made on the house by a house flipper or investor, Friday 11/06/2010 and submitted to the bank (JP Morgan Chase). I too would like to make a cash offer on the house and I am trying to understand the best approach to get my offer excepted.
My question is; would it do any good to contact the attorney handling the foreclosure to present my cash offer or find out who the trustee is, one has been appointed and work with them, go to the auction on the 23rd, present my offer to the realtor for a short sale or even try and contact the bank directly with my cash offer?
Also would like to know if an offer of a short sale stops the auction?
Thank you for any assistance you can provide.
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