Anyone awake?! Need help making sense of documents!

[Account Closed]

Hi all!

If anyone is awake I have some documents that were sent over to me today from title on an investment property I am researching. I THOUGHT I understood, but when I read my title reps email it made no sense...not sure if he made a typo...or if I need a second set of eyes. Anyone out there want to take a peak? It is a fast one! :-)

Thanks!

[Tiffany Arthur]

Hi Rachel,

It sounds to me the title company mis-spoke- if she did NOT find a Notice of Trustee??s Sale, it would mean it is NOT going to auction. In "I only found one deed of trust and taxes are current" sounds like there is one mortgage.

Are you interested in the property because you believe it is in foreclosure or distressed and can make a deal? In that case, you would deal with homeowner. Get an agreement for sale and make the offer to the bank for what I would assume will be a short sale. The owner does have the right to sell up until the lender auctions it, where they also have the right to bid. If it gets to that point, you would be dealing with (or bidding directly) with the bank.

Alternatively, if you are actually looking to buy the Note and Mortgage on the property (basically the liens, so you become the lender) you would be approaching the bank direct, but don't waste your time with that. That is typically for large pool investors buying large pools of notes and mortgages and dont think this is your scenario.

Hope this helps.