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Is it legal or OK to sell a foreclosed property even if it's still in mortgaged?
Actually it's very risky to buy a property that has been foreclosed. Unless the property has been consolidated with the new owner, the seller of the mortgaged property can still sell but subject to encumbrance because real estate mortgage is a real right that carries with it with the property. As long as there's no foreclosure sale yet.
If it's mortgaged property, look at the title. If you buy a mortgaged property, that property will still be subject to foreclosure proceedings. So, it's risky to buy a mortgaged property which is a candidate for foreclosure.
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"Is it legal or OK to sell a foreclosed property even if it's still in mortgaged?" was written by admin under the Real Estate category. It has been read times and generated 0 comments. The article was created on .
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