If I have a house in Puerto Rico that’s in foreclosure and going to be auctioned off but I have a buyer, can I still sell the house myself?
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If I have a house in Puerto Rico that’s in foreclosure and going to be auctioned off but I have a buyer, can I still sell the house myself?
This is not my primary residence.
Asked on January 8, 2013 under Real Estate Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
So long as you are the owner of record of the home in Puerto Rico you can sell it to a third party even though it may be subject to a foreclosure. The issue is whether or not there is enough of a purchase price amount to retire the property's debt load.
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