All Forum Posts by: Jerilyn D.

@Account Closed- I am going to my first auction tomorrow- I am anxious to observe the process.

Hi @Account Closed,

Thanks so much again! I have a few more q's:

1) If this is an OWNER ORDERED sale- Is this of public record? How do I find out?

2) If this is not an OWNER ORDERED sale, is this really a foreclosure sale of a property with a single loan taken out 30 years ago?? I don't get it. Do you? And, if so, can you please fill me in  : )

3) I know the comps well. The ARV is $120k. I have looked at the property several times ( exterior only). I know the subdivision fairly well.

4) I'm not emotionally attached to this property. I just want to make money.

5) What are your thoughts?

6) Thank you so much for your time- Seriously, THANK YOU!!

@Account Closed, Thank you so much for your reply! I am going to message you this evening. Thanks again!!

I'm a newbie, and need some input (please). I have found a property being sold at auction on Tuesday that I am interested in. I have purchased a title report, and the property shows that there has been one loan taken out on the property in 1987 for 63k, with a maturity date of 8/1/2017. It looks as though the loan was assigned from one bank to another on 2 occasions, the last in 1995. Taxes are current. There are no additional liens on the property according to the title report. The ARV of this property is $120k.

The notice in the paper does not state a loan default amount ( or opening bid amount) as most notices do. I am confused as to why there is no outstanding loan default amount listed in the notice in the paper, and I'm thinking that if the original loan was originated in 1987, there may not be much of an outstanding balance at all....

Will someone please fill me in and let me know if I'm crazy to think this could be a great deal. Please be gentle...Remember, I'm new : )

I have found realtytrac to actually be pretty good. The trick is that you need to do a "filtered search", and modify the entry date to date back 14 days max. I only learned this by talking to one of the realtytrac reps.

I hope this helps!! : )

@Jonna Weber 

@Brent Coombs 

@Rocky V. 

Thank you all for the insight!

@Marlene Michael 

We sure will!! : )

Hi guys!

I hope this isn't a stupid question. 

When purchasing "subject to", is there a point in time when you are able to get the seller's name off of the loan?

@Joshua Dorkin 

Happy Birthday, Josh! 

Thank you for this fantastic site! You change lives!!

@Marlene Michael 

I haven't sought out or attended any meetings yet. I am anxious to do so, but I have a newborn at home, so I've been trying to juggle my responsibilities : )