Putting home up for sale within 15 days of purchase at Trustee Sale and prior to recording the deed?


#1

Sean, ? Is it an ok/good/bad idea to put the house up for sale within the 15 days after purchasing at trustee sale, and before recording the deed - in order to receive the first offer(s)? Of course, maintaining the goal to record the deed within the 15 days. Simply accepting offers though during the same time frame, possibly accepting one too? I have seen plenty of other people buy at Trustee sale, and put the home up for sale within a few days after the sale, and I know they didn’t receive, no less record the deed that quickly. And in this market, I know they were probably already receiving offers after 24 hours. I appreciate your response and thoughts.


#2

If you have secured the property I see little reason not to begin marketing before you have the deed. If you actually go to accept an offer, be sure to add a clause saying that the acceptance is subject to your recording the deed. Would be a bummer to have the trustee rescind the sale on a property you were contractually obligated to sell. :slight_smile:


#3

Sean, what happens if the sale is rescinded after you are contractually obligated to sell? Can the new potential buyers sue or ?