All Forum Posts by: James Cheung

How do you suggest to do the right thing?  that is exactly what my post is.  My original verbiage may lead you to feel that I want the cars.  But those are not working junks sitting in the backyard.  From what I can tell, they have not been turned on for at least a year.  My understanding is that I need to run some publication to find the owners.  How and what are the procedures?  care to advise?  

This is my first time buying from a trustee sales.  The house is vacant.  But the home owner left with a lot of personal belongings there, mostly clothes and junks.  But there are two cars sitting in the backyard which are not working.  I understand there is a procedure to follow before I can dispose the personal property, especially if I want to claim the two cars with DMV, selling them to recover my storage or hauling away the trash expenses.  can any trustee sales pro in Los Angeles County advise me the steps I need to take?  Thank

Besudes IRS and HOA, is there any other super liens ?

great topic. I am looking at a NPN for the first time as we speak and would love to hear your experience.

Not mobile home. It looks like a manufacturing home built with foundation.  I run comps online and came to the $110k value.  But there is not a lot of activities and COMPs can be misleading.  How is that area in general?

I have an opportunity to take over a non-performing 1st Deed of a SFR in Hobe Sound, FL. Borrower left and MIA. The plan is to foreclose and sell the house. It is a 3BD, 1BA manufacturing home sitting on a 1 acre land. I don't know much about the area. Looking at the COMP, it seems like I can sell the house around $110,000. Can anybody advise if 1 acre land is valuable or not in that part of FL? Manufacturing home common acceptable there? In a small town like this, is $110K an affordable? Many Thank

If I were in your shoe, I will simply buy the house from her using a simple purchase agreement.  If you ask a CT real estate agent, you can easily find one that would give you a free copy as a courtesy.  Don't need a real estate agent, nor a lawyer.  Just find a lender to qualify you for a loan.   If you want to be 100% sure all "i' and 't" are checked, get hold a local escrow company who can handle the transfer and recording of deed for you for a few hundred dollars.

It happened to me as well when I was with my previous broker.  But they only need their name to be added to the Loss payee, not title.  My insurance company is Mercury and the premium only went up slightly.  If my memory serves me well, it is like $50, definitely under $100.

Manolo:  what is the name of the group?  can't see it in meetup.com

David C: thank you pointing this out.  I over-simplified this.   If it is backed by a real estate asset, you can charge 10%+, which is exempted.  But CFPB is such a wild card that I would not deal with owner occupied mortgage.  It will be a lot of work to foreclose on the house if it goes south