 Courthouse foreclosure sa (by Pat [VA]) Sep 18, 2022 4:49 PM
 Courthouse foreclosure sa (by tryan [MA]) Sep 18, 2022 5:02 PM
Courthouse foreclosure sa (by Pat [VA]) Sep 18, 2022 5:07 PM
Courthouse foreclosure sa (by Pat [VA]) Sep 18, 2022 5:09 PM
Courthouse foreclosure sa (by WMH [NC]) Sep 18, 2022 5:19 PM
Courthouse foreclosure sa (by Ken [NY]) Sep 18, 2022 5:25 PM
Courthouse foreclosure sa (by Pat [VA]) Sep 18, 2022 7:25 PM
Courthouse foreclosure sa (by Ken [NY]) Sep 18, 2022 8:34 PM
Courthouse foreclosure sa (by Ray-N-Pa [PA]) Sep 19, 2022 8:06 AM
Courthouse foreclosure sa (by Pat [VA]) Sep 19, 2022 8:18 AM
Courthouse foreclosure sa (by Ken [NY]) Sep 19, 2022 6:52 PM
Courthouse foreclosure sa (by Pat [VA]) Sep 19, 2022 7:22 PM
Courthouse foreclosure sa (by Pat [VA]) Posted on: Sep 18, 2022 4:49 PM
Message:
We've only bought one home at County Courthouse foreclosure sale. The attorney presided over that one and my husband paid a cash down payment. Closing has to be quick.
I am looking at one advertised that has the following wording, "Terms of sale: A non-refundable bidder's deposit of 10% of the sale price or 10% of the original principal amount of the subject Deed of Trust, whichever is lower, by cashiers or certified check required at time of sale except for the party secured by the Deed of Trust."
Does this mean for any bidder except the original buyer/owner? --216.126.xx.xxx |
Courthouse foreclosure sa (by tryan [MA]) Posted on: Sep 18, 2022 5:02 PM
Message:
It means any bidder except a lender with a note against the property. --206.84.xx.xxx |
Courthouse foreclosure sa (by Pat [VA]) Posted on: Sep 18, 2022 5:07 PM
Message:
Thank you, I had just begun to realize that, but I appreciate the clarification.
IOW, if they "take" it in with no high enough bids, they do not have to pay the 10% to do that. --216.126.xx.xxx |
Courthouse foreclosure sa (by Pat [VA]) Posted on: Sep 18, 2022 5:09 PM
Message:
Can there be any notes recorded anywhere else other than in the county where the property is located? I have looked on county records here and do not see any other judgments against the property.
The lawyers are not allowed to advise you, but they sometimes "hint".
--216.126.xx.xxx |
Courthouse foreclosure sa (by WMH [NC]) Posted on: Sep 18, 2022 5:19 PM
Message:
Which state, Pat? VA or NC? --50.82.xxx.xxx |
Courthouse foreclosure sa (by Ken [NY]) Posted on: Sep 18, 2022 5:25 PM
Message:
As Tryan said any bidder other than the plaintiff has to put down the 10%.Anything recorded against it has to be at the county where the property is located, even judgments recorded in a different county are not attached.Dont count on the attorney acting as a referee giving good advice,i go to foreclosure auctions every day and it is amazing how many of the referees give bad advice,they dont necessarily do real estate regularly but a judge passes out the auctions to his attorney friends and it is easy money so just because they are acting as a referee doesnt mean they have any idea what they are doing. --74.77.xx.xx |
Courthouse foreclosure sa (by Pat [VA]) Posted on: Sep 18, 2022 7:25 PM
Message:
WMH, in Va. A house is coming up for foreclosure on a road that we already own a couple of rentals. It might go in our price range as a man got in trouble with the law and committed suicide in it. My DH says no more but I think he will go if I go just to "hold my hands" and see what it does go for.
So many people are in the market now, it might not matter to them or they might not know it/care. --216.126.xx.xxx |
Courthouse foreclosure sa (by Ken [NY]) Posted on: Sep 18, 2022 8:34 PM
Message:
Pat,I go daily,the balance owed has no bearing on what the bank will bid,make sure it is a first position mortgage you are bidding on.I go in 2 counties that are rural and i am usually the only bidder.I have literally bought a house for $2 and about 6 for $101.Before covid i was good for 1-2 per month at low prices. --74.77.xx.xx |
Courthouse foreclosure sa (by Ray-N-Pa [PA]) Posted on: Sep 19, 2022 8:06 AM
Message:
I can't speak to your state, but over here, they phrase it in this manner so the person taking this to sheriff sale can pay the minimum transfer tax at the sale if no one else bids on the thing. They typically take these to sale for just back taxes, but ask for a percentage of either balance owed or original note balance. --24.101.xxx.xxx |
Courthouse foreclosure sa (by Pat [VA]) Posted on: Sep 19, 2022 8:18 AM
Message:
The DOT was just taken out in 2018, so about 50-60k owing on it plus we all know it is mostly interest paid in the beginning. The one we bought, was in bad shape, it was 36k owing but we got it for 18k, the only other guy wouldn't bid. It has been one of our best rentals w/o even one month vacant so far & that was 6 years ago.
It is a very small house and law enforcement damaged the front window to "encourage" the guy to surrender. They've made some repairs so IDK what it will start at. I don't think they ever let anything go cheap around here. Always goes through a Realtor after courthouse, and then it plays out. --216.126.xx.xxx |
Courthouse foreclosure sa (by Ken [NY]) Posted on: Sep 19, 2022 6:52 PM
Message:
I just got one today,bank was owed $49000, i got it for $12000 no other bidders clean it out and mow the lawn i can sell it as is handyman special $40000-$50000 --74.77.xx.xx |
Courthouse foreclosure sa (by Pat [VA]) Posted on: Sep 19, 2022 7:22 PM
Message:
Dang Ken, you go guy! Good for you! --216.126.xx.xxx |
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