- This topic has 85 replies, 11 voices, and was last updated 15 years, 4 months ago by Effective Demand.
-
AuthorPosts
-
July 27, 2009 at 1:18 PM #438035July 27, 2009 at 2:11 PM #437680urbanrealtorParticipant
In addition to the inability to finance these (hard money legbreakers notwithstanding) any successful bidder is subject to any liens on the property (or even the defaulting borrower) that supersede the trustee’s deed.
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
The inability to inspect the property, finance, or get title insurance usually means discounts that are an order of magnitude lower.
Again, in my experience.
July 27, 2009 at 2:11 PM #437479urbanrealtorParticipantIn addition to the inability to finance these (hard money legbreakers notwithstanding) any successful bidder is subject to any liens on the property (or even the defaulting borrower) that supersede the trustee’s deed.
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
The inability to inspect the property, finance, or get title insurance usually means discounts that are an order of magnitude lower.
Again, in my experience.
July 27, 2009 at 2:11 PM #437996urbanrealtorParticipantIn addition to the inability to finance these (hard money legbreakers notwithstanding) any successful bidder is subject to any liens on the property (or even the defaulting borrower) that supersede the trustee’s deed.
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
The inability to inspect the property, finance, or get title insurance usually means discounts that are an order of magnitude lower.
Again, in my experience.
July 27, 2009 at 2:11 PM #438067urbanrealtorParticipantIn addition to the inability to finance these (hard money legbreakers notwithstanding) any successful bidder is subject to any liens on the property (or even the defaulting borrower) that supersede the trustee’s deed.
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
The inability to inspect the property, finance, or get title insurance usually means discounts that are an order of magnitude lower.
Again, in my experience.
July 27, 2009 at 2:11 PM #438235urbanrealtorParticipantIn addition to the inability to finance these (hard money legbreakers notwithstanding) any successful bidder is subject to any liens on the property (or even the defaulting borrower) that supersede the trustee’s deed.
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
The inability to inspect the property, finance, or get title insurance usually means discounts that are an order of magnitude lower.
Again, in my experience.
July 27, 2009 at 2:34 PM #438252AnonymousGuestThanks for the information about superceding liens. I didn’t know they could be added on upto 120 days after the trustee’s auction. All the more reason for me to stay away from such auctions until I know more about the ins and outs of them. My original attraction to the auction process was to avoid the bidding up on asking prices that has been occuring lately when properties are marketed via the MLS. RealtyTrac currently shows 45 properties going to trustee sale in the next 10 days in the zip code I am primarily interested in. Maybe some of the “shadow” inventory will finally come up for sale. I’ll continue to be patient so as to buy a decent house at a good price.
July 27, 2009 at 2:34 PM #438084AnonymousGuestThanks for the information about superceding liens. I didn’t know they could be added on upto 120 days after the trustee’s auction. All the more reason for me to stay away from such auctions until I know more about the ins and outs of them. My original attraction to the auction process was to avoid the bidding up on asking prices that has been occuring lately when properties are marketed via the MLS. RealtyTrac currently shows 45 properties going to trustee sale in the next 10 days in the zip code I am primarily interested in. Maybe some of the “shadow” inventory will finally come up for sale. I’ll continue to be patient so as to buy a decent house at a good price.
July 27, 2009 at 2:34 PM #437496AnonymousGuestThanks for the information about superceding liens. I didn’t know they could be added on upto 120 days after the trustee’s auction. All the more reason for me to stay away from such auctions until I know more about the ins and outs of them. My original attraction to the auction process was to avoid the bidding up on asking prices that has been occuring lately when properties are marketed via the MLS. RealtyTrac currently shows 45 properties going to trustee sale in the next 10 days in the zip code I am primarily interested in. Maybe some of the “shadow” inventory will finally come up for sale. I’ll continue to be patient so as to buy a decent house at a good price.
July 27, 2009 at 2:34 PM #438012AnonymousGuestThanks for the information about superceding liens. I didn’t know they could be added on upto 120 days after the trustee’s auction. All the more reason for me to stay away from such auctions until I know more about the ins and outs of them. My original attraction to the auction process was to avoid the bidding up on asking prices that has been occuring lately when properties are marketed via the MLS. RealtyTrac currently shows 45 properties going to trustee sale in the next 10 days in the zip code I am primarily interested in. Maybe some of the “shadow” inventory will finally come up for sale. I’ll continue to be patient so as to buy a decent house at a good price.
July 27, 2009 at 2:34 PM #437696AnonymousGuestThanks for the information about superceding liens. I didn’t know they could be added on upto 120 days after the trustee’s auction. All the more reason for me to stay away from such auctions until I know more about the ins and outs of them. My original attraction to the auction process was to avoid the bidding up on asking prices that has been occuring lately when properties are marketed via the MLS. RealtyTrac currently shows 45 properties going to trustee sale in the next 10 days in the zip code I am primarily interested in. Maybe some of the “shadow” inventory will finally come up for sale. I’ll continue to be patient so as to buy a decent house at a good price.
July 27, 2009 at 10:16 PM #438469sreebParticipantSo, assuming I have the cash, do I have to have it in a briefcase one the court house steps? Seems like these guys would be getting mugged on a daily basis.
What are the actual mechanics of paying?
July 27, 2009 at 10:16 PM #437910sreebParticipantSo, assuming I have the cash, do I have to have it in a briefcase one the court house steps? Seems like these guys would be getting mugged on a daily basis.
What are the actual mechanics of paying?
July 27, 2009 at 10:16 PM #437708sreebParticipantSo, assuming I have the cash, do I have to have it in a briefcase one the court house steps? Seems like these guys would be getting mugged on a daily basis.
What are the actual mechanics of paying?
July 27, 2009 at 10:16 PM #438228sreebParticipantSo, assuming I have the cash, do I have to have it in a briefcase one the court house steps? Seems like these guys would be getting mugged on a daily basis.
What are the actual mechanics of paying?
-
AuthorPosts
- You must be logged in to reply to this topic.