You have to look at the name written on the title if you want to see if the ownership of the property has been shifted to you. But until there are number of payments to be made by you on the house loan, the bank is at advantage from all angles.
When the loan of the bank is not paid on time, foreclosures can make its way towards you. The problem gets momentum as there are many people who want to buy bank owned property.
For the banks it is more beneficial to being the REO i.e. real Estate owned property back to the market for sale. Therefore they might not even agree on the basement price bargain and make all efforts to stop such a thing to happen.
Anyone who is interested in this field must grasp enough knowledge about the market price of the property. Things if purchased at the market price are more satisfactory and it definitely seems strange to pay more or less than what the market price is unless you have some strong reason to do so.
When the loan of the bank is not paid on time, foreclosures can make its way towards you. The problem gets momentum as there are many people who want to buy bank owned property.
For the banks it is more beneficial to being the REO i.e. real Estate owned property back to the market for sale. Therefore they might not even agree on the basement price bargain and make all efforts to stop such a thing to happen.
Anyone who is interested in this field must grasp enough knowledge about the market price of the property. Things if purchased at the market price are more satisfactory and it definitely seems strange to pay more or less than what the market price is unless you have some strong reason to do so.
