courthouse auction
I'm brand new into the game, and I could use some help
I have located a very ugly, abandaned property in a decent neighborhood, which I can fix all up and resell at a huge profit.. The auction is July 1st.. I have plenty of Cash to buy it outright and fix it up, but since its my first venture into real estate I don't want to make a mistake-
The main thing that concerns me is that in the Notice of Sale Under Power, it says
"this conveyance is made subject to a loan deed in favor of xy company, which the Grantee assumes and agrees to pay as it matures"
I have no idea what this means, any help or insight would be greatly appreciated
how could you find out if any liens are on the property without paying $300 for a title search, which doesen't make good sense considering you have no idea whether you will win the property in auction or not..
Thanks, Kyle
Start first by going down to your local courthouse if the deal is worth it spend all day if neccessary. You will be amazed at all the info you will get and the best part its all free. They know who you are and what ur doing just ask and they will help u.
I hope I helped.
Chris
Thanks Chris, I'll do that- I just needed a direction to go- and you said the magic word "free"- I'll do anything myself if it saves me from dipping into the wallet
pay the money and get a formal title search. If there is huge profits in it, it is worth spending the dollars.