we just bought a house at auction, the bank now wants to rescind the sale. the p

Jump to Last Post 1-5 of 5 discussions (5 posts)
  1. profile image45
    jill.sweeney1posted 8 years ago

    we just bought a house at auction, the bank now wants to rescind the sale. the prior owner says he

    not get the required notices from the bank prior to the sale at auction.  We have the deed, title, etc.,The bank now wants to rescind the sale and wants us to give back the property so they can send their notices and then put it back up for auction. What are our rights? If we give it back, shouldn't we be able to get lost projected profits? If we refuse, can they tie the property up in court?

  2. dgicre profile image80
    dgicreposted 8 years ago

    If you have the deed and title already this may be worth visiting a good real estate attorney for a consult. The bank may have their reasons, you could also make an appointment with the Bank Manager  and ask him why the bank is doing this. Place a small tape recorder on the table and ask him it it is OK if we record this conversation for your attorney. Good luck, hope things turn out OK for you.

  3. C.A. Johnson profile image67
    C.A. Johnsonposted 8 years ago

    My mother was a mortgage underwriter and she suggests getting a real estate attorney quickly. Depending on the state you live in there can be a lot of options or very few. Either way you will need an attorney.

  4. kprimeaux profile image59
    kprimeauxposted 8 years ago

    The bank will often rescind the home for an improper foreclosure, if they did not meet the states law or requirements of notice.

    Technically, you bought a house that didn't belong to the person you bought it from. Which in a way means, you don't own it.

    It is unlikely you will recover "lost" future profits since that is only assuming that it would profit...What if it didn't etc...

    You could possibly suing the bank for damages due to neglect and negligence.

    However, I don't see this ending well. Most likely would get ruled in the original occupants favor. If the bank is already rescinding, that means the occupant most likely has a lawyer involved to even know that they could do that.

    My advice. Go get the next deal and wait until this one comes back on the foreclosure block. May be a few months.

  5. joysmith123 profile image56
    joysmith123posted 7 years ago

    please hire a good real estate attorney.

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)