Forclosure Sale
I want to know what are the steps if I buy a second from the courthouse sale, after i make sure the first is current or not at a sale, what are the steps to take control of the property?
I want to know what are the steps if I buy a second from the courthouse sale, after i make sure the first is current or not at a sale, what are the steps to take control of the property?
thank you for the info. one more question will the bank holding the first let me refi if the time permits once i have a recorded second. before I start Im going to track and paper bid for at least 2 weeks to see the actual sale amount at the courthouse and prepare all the services i will need ( evivtion service, contractor,clean up crew, etc..)
swgprop is right. Once you buy the second at foreclosure, you OWN the property. Subject to whatever came first.
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I would be happy to send you that info. What is your email ?
What info would you like me to send?
Woodski,
Go to my profile and you will find this information. I will give you a call and we will see if we can help your client.
John $Cash$ Locke
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Mr. John $Cash Locke,
I truly appreciate your help regarding this matter. Believe me I will follow your instructions to the letter.
Thanks again!!
Without more details and numbers to crunch it is hard to evaluate your deal.
They need to be in arrears and in many cases have an actual Notice of Default before their file is transferred to the "workout" dept.
Prior to this many lenders say tough S....!
Hang in there and if you need some specific guidance you can PM me.
The biggest thing is persistance. Our market is not in the top ten anymore but we have done tons of SS.
I too am a realtor (among other things).
Randall
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If you approach the bank in the wrong manner they may just tell you they do not want to do a short sale. Learn the process for short sales and if they are a big lender and your client has a hardship they will do a short sale. I know I do them everyday and I have only been turned down for a short sale by small banks that cannot take losses.
DC