Who signs the purchase agreement on a foreclosure sale?
A lender who gains ownership of a property through foreclosure will typically hire a company to manage the property – this is called an “asset management company”. This company will hire a Realtor to list the home for sale and they will coordinate cleaning the property, changing locks, winterizing, negotiating offers, etc. The asset manager will have authority from the lender to sign an approved purchase agreement or they will arrange for a representative of the lender to sign it.
