Foreclosure Sale - Posted by Charles


#1

Posted by Charles on January 03, 1999 at 23:37:29:

Rodman, the sale is taking place in the state of maryland. Also I have tried several times to contac the owner. I will knock on the door today.
As far as cash on hand there is very very little, I need this to be no money down if possible.
Thank You


#2

Foreclosure Sale - Posted by Charles

Posted by Charles on December 31, 1998 at 11:17:28:

First to JP thanks again for this wonderful site, and Happt New Year to all.

As a newbie to REI I have been looking at FSBO’s and pre-forclosures to get my feet wet. Today I found a property that is going to be auctioned off on 1-6-99, 4br, 2.5ba according to the tax records the property value is more than $175,000.

There is a principal bal of $53k, and through research I found that there are judgements for taxes totaling $34k. that brings the total to $87,000.
As soon as I got back I tried to call the homeowner, howver he was not in.

My questions are who shuold I talk to now?
Can I work a deal before the sale, or is it to late for this one?
What would be the best way to close this deal and pull out cash?

Thank you
Charles


#3

Re: Foreclosure Sale - Posted by Rodman

Posted by Rodman on January 02, 1999 at 10:11:28:

Charles,

What state is the foreclosure taking place? Because every state has different statues. Depending on how much capital you have depends on which avenue I would suggest to you… Before the sale can be alot more advantageous than waiting for the auction.

By the way, how many times have you tried to contact the owner? Once is not enough…

Rodman-Dallas,Tx