Hey all, Thanks for all your positive comments. Does this mean it still okay to post every once in a while? Theres a certain sense of loss now that I’m a homeowner again. I’ve spent so many hours researching property the last year I’m not quite sure what to do now. I can’t bring myself to cancel my Foreclosure Radar account, its like an addiction.
Seattle-relo – yes on the high gluten flour. Btw, last year $6-7 for 25# this year as high as $18
Esmith, pabloescobar, SD Realtor– Like everyone else I had been watching the whole market but was only interested in a handful of properties and was tracking them through the foreclosure process. Everything sort of fell in place with the one I bought. I knew who the former owners were and when they walked away I contacted them and they agreed to rent the property to me month-to-month until the bank came knocking. So I got to test drive the property so to speak. As an added bonus I saved all the landscaping from certain death. When the NOT was filed and I knew the clock was ticking I decided I would take a shot at buying at the auction. I had a title report run to check for any tax liens that wouldn’t be extinguished and when that came up Ok I decided that my limit would be 485k and got the money into liquid accounts. The property was a Countrywide foreclosure and ReconTrust was the trustee so I was able to watch for the opening bid here. http://www.recontrustco.com/upcoming_result_details.aspx?county=Riverside The day before the auction I got cashiers checks in various denominations up to my limit but still there was no opening bid posted. The opening bid was finally posted at 8am the day of the auction which was scheduled for 10. The auction itself was very low key . There was maybe six people there that had an interest in particular properties and a few pros looking for a deal. The trustees representatives asked what property I was interested in and moved it to the front of the line. They verified I had the funds, I bid .01 more than the opening bid and it was done. They got my 483,600.01 and I got a receipt. It hasn’t come yet but they tell me I will be getting the deed in the mail.
