Title Abstracting as a profession is quite different than title searching as a part of your investment business. We do our own title searches mostly because of cost but also because we know the "story" of the property which helps in negotiations and because I am looking for a situation where fee simple ownership was present which greatly increases the accuracy of liens and title over a simple time-based historical search.
(No advertising in your post please)[ Edited by JohnMichael on Date 03/01/2005 ]
hmm. i have never bought anything at the court house steps. but from what i know, you need to bring a cashiers check for 10% before you can even bid. thats how it is in my county anyways. they post the amount that you must bring in the ad in the paper about it.
For more detailed info on it, i would call the Trustee or Committee appointed to the sale. it usually is a lawyer or law firm. look on the Notice Of Sale or Lis Pendens to find out who this is and then contact them.
In Florida, buyers on the courthouse steps have a series of checks made out to "Clerk of Court" and have to give the Clerk a minimum of 5% of the bid as soon as the gavel falls.
Each County has their own rules... from 3 hours to the next day.... to pay the balance.
The Duval County Clerks, and maybe the other Counties, will not accept a check made out in any other way than "Clerk of Court."
Judgements on behalf of an attorney. I am not aware of what their are for but they total almost $25,000 and settling for 50% will make the property much less attractive.
Your first step would be to contact the judgement holder and negotiate a lien release for say 10% or yes your customer could file Chpt 7 and the debt goes away or yes as you stated bid at the foreclosure sale and it goes away also
Now that is something you can share with the judgement holder - HINT - HINT.
[addsig]
This may help
Introduction To Title Searching Part One
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=822
Introduction To Title Searching Part Two
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=824
[addsig]
Thanks John, exactly what I was looking for !!
Mark
Title Abstracting as a profession is quite different than title searching as a part of your investment business. We do our own title searches mostly because of cost but also because we know the "story" of the property which helps in negotiations and because I am looking for a situation where fee simple ownership was present which greatly increases the accuracy of liens and title over a simple time-based historical search.
(No advertising in your post please)[ Edited by JohnMichael on Date 03/01/2005 ]
John;
When are you coming out with part III ?
Quote:
On 2005-02-25 19:05, JohnMichael wrote:
This may help
Introduction To Title Searching Part One
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=822
Introduction To Title Searching Part Two
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=824
Soon by friend, Soon.
[addsig]
hmm. i have never bought anything at the court house steps. but from what i know, you need to bring a cashiers check for 10% before you can even bid. thats how it is in my county anyways. they post the amount that you must bring in the ad in the paper about it.
For more detailed info on it, i would call the Trustee or Committee appointed to the sale. it usually is a lawyer or law firm. look on the Notice Of Sale or Lis Pendens to find out who this is and then contact them.
hope this helps
In Essex County you are required to have %20 at the end of auction. they wont let you leave and bring more money if you over bid..
In Florida, buyers on the courthouse steps have a series of checks made out to "Clerk of Court" and have to give the Clerk a minimum of 5% of the bid as soon as the gavel falls.
Each County has their own rules... from 3 hours to the next day.... to pay the balance.
The Duval County Clerks, and maybe the other Counties, will not accept a check made out in any other way than "Clerk of Court."
Did you try to see if this trustee has a web site as they may have listed the details.
[addsig]
What kind of judgement? Many can be negotiated, many can not.
Brenda
Judgements on behalf of an attorney. I am not aware of what their are for but they total almost $25,000 and settling for 50% will make the property much less attractive.
Your first step would be to contact the judgement holder and negotiate a lien release for say 10% or yes your customer could file Chpt 7 and the debt goes away or yes as you stated bid at the foreclosure sale and it goes away also
Now that is something you can share with the judgement holder - HINT - HINT.
[addsig]