Foreclosures-Help me out native Buckeyes! - Posted by Java(OH)
Posted by Java(OH) on March 08, 2006 at 21:17:31:
Title searches? Is there a website to go onto to do the title search yourself. I appraise houses and all my data I have to buy, but none of this helps me with my MH searches. When you buy a bank owned or foreclosure MH, the only thing you are responsible for are back lot rent, liens and taxes, correct? Also, does all this show up on the title(when you find it)? I have several MHs that I am currently looking at and researching and this is my hang up. I just want to be clear before I come to a MH that I want to buy. Why do most of the people on this site tend to low ball bank owned properties so much, when the home can be sold for more than double what you could probably get the bank to except. For example, the MH can sell for $12,000 w/ $1,000 rehab and the bank wants $7,000. Why not offer $4,000 and see what happens. I’m reading that alot of you would offer something like $500-$1,500 and walk away if ot excepted, leaving alot of money on the table. Is there something I not seeing when considering a bank owned home as opposed to a FSBO. Sorry for all the questions, but they are not spelled out in DOW and I also like other people’s opinions to these scenarios. Thanks for your feedback.