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Updated over 14 years ago,
Contacting Owner's in Preforeclosure
I have some properties I have looked up on my local master commissioner sale (my county foreclosure sale). I am have found one particular property I am interested in. The master commissioner's appraisal is $140,000 and the balance owed on the home is $49,603 to Chase Bank. I have the legal description of the property, the name of the the original owners who bought the place in 1978 (both elderly and deceased as of late 2009).
The master commissioner website also details that "by virtue of his (deceased owner) Last Will and Testament, devised the above described property to (his son's name). So I have the sons name who inhereited the property.
My question is (1) how do I directly get ahold of this individual, any easy ways online. I have typed is name into google in various manner swith no results. The property would sell in today's market for $120,000 pretty quickly.
(2) After I get ahold of the owner, how much should I offer him? He owes $50,000 and the property is worth about $120,00 IMO. He has not listed th eproperty on the MLS but has instead chosen to be foreclosed upon (I don't know why).
The foreclosure sale is set to occur in about 2 weeks so i want to move quickly.