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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.
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.
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.
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.
ParticipantAll NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.
Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.
If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.
ParticipantAll NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.
Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.
If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.
ParticipantAll NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.
Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.
If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.
ParticipantAll NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.
Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.
If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.
ParticipantAll NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.
Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.
If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.
ParticipantFidelity asap is just one of many trustee sale posting companies. There is another big one for CA called Priority Posting. There are also numerous smaller ones.
Notice of Trustee sales are a matter of public record. You can look in the public records for finding out if one is filed and when the first date of sale would be. They also have to post the sale in a newspaper and that many times either has a phone number or a website along with a trustee sale # to check on the sale (see if its postponed, what is its bid price, etc).
ParticipantFidelity asap is just one of many trustee sale posting companies. There is another big one for CA called Priority Posting. There are also numerous smaller ones.
Notice of Trustee sales are a matter of public record. You can look in the public records for finding out if one is filed and when the first date of sale would be. They also have to post the sale in a newspaper and that many times either has a phone number or a website along with a trustee sale # to check on the sale (see if its postponed, what is its bid price, etc).
ParticipantFidelity asap is just one of many trustee sale posting companies. There is another big one for CA called Priority Posting. There are also numerous smaller ones.
Notice of Trustee sales are a matter of public record. You can look in the public records for finding out if one is filed and when the first date of sale would be. They also have to post the sale in a newspaper and that many times either has a phone number or a website along with a trustee sale # to check on the sale (see if its postponed, what is its bid price, etc).
ParticipantFidelity asap is just one of many trustee sale posting companies. There is another big one for CA called Priority Posting. There are also numerous smaller ones.
Notice of Trustee sales are a matter of public record. You can look in the public records for finding out if one is filed and when the first date of sale would be. They also have to post the sale in a newspaper and that many times either has a phone number or a website along with a trustee sale # to check on the sale (see if its postponed, what is its bid price, etc).
ParticipantFidelity asap is just one of many trustee sale posting companies. There is another big one for CA called Priority Posting. There are also numerous smaller ones.
Notice of Trustee sales are a matter of public record. You can look in the public records for finding out if one is filed and when the first date of sale would be. They also have to post the sale in a newspaper and that many times either has a phone number or a website along with a trustee sale # to check on the sale (see if its postponed, what is its bid price, etc).
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