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Effective Demand.
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July 27, 2009 at 10:16 PM #438301July 27, 2009 at 11:13 PM #438306
SD Realtor
ParticipantBring cashiers checks. Have them made out in your name. If you have a winning bid you simply sign them over to the trustee. It is not rocket science. Take a few denominations. You get the change back along with the deed in about 10 days.
July 27, 2009 at 11:13 PM #437713ParticipantBring cashiers checks. Have them made out in your name. If you have a winning bid you simply sign them over to the trustee. It is not rocket science. Take a few denominations. You get the change back along with the deed in about 10 days.
July 27, 2009 at 11:13 PM #438474ParticipantBring cashiers checks. Have them made out in your name. If you have a winning bid you simply sign them over to the trustee. It is not rocket science. Take a few denominations. You get the change back along with the deed in about 10 days.
July 27, 2009 at 11:13 PM #438233ParticipantBring cashiers checks. Have them made out in your name. If you have a winning bid you simply sign them over to the trustee. It is not rocket science. Take a few denominations. You get the change back along with the deed in about 10 days.
July 27, 2009 at 11:13 PM #437915ParticipantBring cashiers checks. Have them made out in your name. If you have a winning bid you simply sign them over to the trustee. It is not rocket science. Take a few denominations. You get the change back along with the deed in about 10 days.
July 28, 2009 at 9:25 AM #438019Effective Demand
Participant[quote=urbanrealtor]
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
[/quote]IRS has the ability to buy a property back for what you paid for it for 120 days if a junior tax lien is on the property. It isn’t like the trustee sale buyer is liable for the taxes in that situation.
In my research, if you know the chain of title at the time of sale, know what lien you are buying and the value of the property you are buying you have things covered. The fact that title is perfected on 8am the day of the sale as long as the trustee’s deed is recorded in 15 days saves a lot of worries for any junior lien action.
While you have to do your diligence I don’t think the issue is as scary as people make it out to be.
July 28, 2009 at 9:25 AM #438338Participant[quote=urbanrealtor]
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
[/quote]IRS has the ability to buy a property back for what you paid for it for 120 days if a junior tax lien is on the property. It isn’t like the trustee sale buyer is liable for the taxes in that situation.
In my research, if you know the chain of title at the time of sale, know what lien you are buying and the value of the property you are buying you have things covered. The fact that title is perfected on 8am the day of the sale as long as the trustee’s deed is recorded in 15 days saves a lot of worries for any junior lien action.
While you have to do your diligence I don’t think the issue is as scary as people make it out to be.
July 28, 2009 at 9:25 AM #438410Participant[quote=urbanrealtor]
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
[/quote]IRS has the ability to buy a property back for what you paid for it for 120 days if a junior tax lien is on the property. It isn’t like the trustee sale buyer is liable for the taxes in that situation.
In my research, if you know the chain of title at the time of sale, know what lien you are buying and the value of the property you are buying you have things covered. The fact that title is perfected on 8am the day of the sale as long as the trustee’s deed is recorded in 15 days saves a lot of worries for any junior lien action.
While you have to do your diligence I don’t think the issue is as scary as people make it out to be.
July 28, 2009 at 9:25 AM #437816Participant[quote=urbanrealtor]
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
[/quote]IRS has the ability to buy a property back for what you paid for it for 120 days if a junior tax lien is on the property. It isn’t like the trustee sale buyer is liable for the taxes in that situation.
In my research, if you know the chain of title at the time of sale, know what lien you are buying and the value of the property you are buying you have things covered. The fact that title is perfected on 8am the day of the sale as long as the trustee’s deed is recorded in 15 days saves a lot of worries for any junior lien action.
While you have to do your diligence I don’t think the issue is as scary as people make it out to be.
July 28, 2009 at 9:25 AM #438579Participant[quote=urbanrealtor]
Some (like tax liens) can be added to the title up to 120 days after the trustee auction.
[/quote]IRS has the ability to buy a property back for what you paid for it for 120 days if a junior tax lien is on the property. It isn’t like the trustee sale buyer is liable for the taxes in that situation.
In my research, if you know the chain of title at the time of sale, know what lien you are buying and the value of the property you are buying you have things covered. The fact that title is perfected on 8am the day of the sale as long as the trustee’s deed is recorded in 15 days saves a lot of worries for any junior lien action.
While you have to do your diligence I don’t think the issue is as scary as people make it out to be.
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