Can Anything Be Done With This?
Hi everyone,
I was doing some research, and found our county's public trustee site. I noticed a home in my area on the "weekly sale list" that had approximately $39k in equity. The sale date was 1/7/04, and the redemption date is 3/22/04. I also found the assessor's public records on this particular property, but I'm not sure where on the page I would find lien information. I clicked around and found a bunch of listings with "Grantee" and "Grantor" (would these be the liens?). Since the sale date has already past, but there seems to be some nice equity in the property, are there any options with this? Or is it already in the hands of the bank?
Thanks in advance,
tungacta
When I see a property I want to know more about I go in person to the courthouse and pull the file and take notes. You can't rely on the web site
If after that you are truely interested you should get a mini title search
Always question why other investors passed this one up...
I suggest you do a drive-bye. Do a visual to get at least an impression of the condition of the house. At 39K equity, you'll want to tag an amount on possible rehabs awaiting you as the new owner.
Depending on your exit-scenario, the numbers may or may not make sense, and you'll want to spend time going through the County records for the missing information.
Hope it works out.
[addsig]
A drive-by would be my first chore, Then get the mini title search to see if you are waisting your time. This should give you a quick indication as to if there are anything you are missing.
First check to see if someone has already bought at the auction. Was it a tax auction or mortgage auction? Different satates have different types of sales. After you know it is for sale then go look to see why it did not sale. I saw a property on MLS for $80,000 in a $125,000 area. The outside looked really good from my car as I drove up. Wow this was a no brainer. How did all the other investors miss this one. Once in the house a saw $40000 in slab repairs and other stuff that would have to be fixed. go look before you get excited
Good LUCK and Thank You
Hope this helps some
Ted Jr