Legal Question in Real Estate Law in Wisconsin

Buying a house under forclosure

My parents just recently sold their condo and 'bought' a house. They have been living in it for 6 weeks. The bank has been jerking them around and keeps coming up with excuses for not closing. Today they got a phone call telling them that the house was going to be auctioned next wednesday. The bank told them 3 weeks ago that they would be allowed to close within a week. They were never even told that the house was in forclosure. What are their rights in this matter? Do you have any advise on how they should handle this?


Asked on 7/31/07, 5:50 pm

1 Answer from Attorneys
Bruce L. Dorner Dorner Law Office

Re: Buying a house under forclosure

This is definitely a complex matter which should be reviewed with an attorney. There are two issues on the table. The first is to determine who is the seller and what terms are specifided in the contract. The second is to deal with the bank as the financing agency. I can't tell from your message if they are the same. Do not delay. Retain an attorney to examine this matter. Any delay may result in unanticipated results.

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Answered on 8/01/07, 8:47 am


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