Experience with DC Foreclosures? Or HUD Foreclosures?

[Stefan Wirth]

Hi - I'm a relatively new investor and I'm pursuing a potential foreclosure in Washington, DC. The property is scheduled to be auctioned at the DC Superior Court later this month (though the auction has already been delayed once).

The owner took a reverse mortgage insured by HUD in 2005, the mortgage transferred between several lenders before ending back up with HUD, the owner passed away in 2013, and late last year a HUD appointed "Foreclosure Commissioner" filed the notice of foreclosure and sale date. Although I believe that DC is now a judicial foreclosure jurisdiction, it looks like HUD can foreclose non-judicially and preempt state law.

I've done a decent amount of due diligence on the property, but given the high stakes I'm very interested in talking with a more seasoned investor with experience in this type of purchase. Are there any folks out there that have experience buying foreclosures in DC? Specifically HUD-initiated would be ideal, but any insights would be appreciated. I just want to make sure that there aren't any red flags that I'm missing, and that I have a decent sense of the mechanics of the process.

Also, I'd like to learn more in general so if anyone has recommendations for other investors, or professionals/attorneys who would be willing to talk for a reasonable fee, with experience in the following areas I'd very much like to connect:

- DC foreclosure law, and the treatment of personal possessions remaining in a foreclosed home

- DC landlord tenant law and the eviction process

- Title searches and other due diligence measures (specific to DC) - Ideally I'd like to sit down with someone who does this for a living and walk through title search and other checks that one would do prior to buying a foreclosure.

Thanks in advance and look forward to any thoughts or insights!