What Is Negotiation Process For Foreclosure?
Buying a foreclosure involves making an offer on the house to the lender. Other buyers may also make an offer on a foreclosure and so there could be a negotiation process for the house. What happens if the lender rejects the offer for the foreclosure? What if other offers are also rejected or fall through and the foreclosure remains on the market? Is the lender breaking the law or violating ethics by rejecting offers or not accepting a valid offer on a house if one has been submitted?