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Purchasing & Developing Land - Part 2 - The Process of Purchasing Land

Eppraisal

In this posting, we will follow the acts of contract negotiation and legal settlement when undeveloped land changes ownership. Other information on the land is there, too: square footage/acreage, legal address, assessed value and the last sales price, to name a few. Subsequently, the process of conveyance must proceed.

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The REO Guide: 10 Steps to Buying a Bank-Owned Home

PennyMac

The lender initiates legal proceedings against the borrower to foreclose on the property. The property is then offered to the public at a foreclosure auction and typically sold to the highest bidder. Foreclosure. When the lender does respond, they will expect you to respond quickly to keep the process moving.