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All Forum Posts by: Kristen T.

Kristen T. has started 5 posts and replied 16 times.

Post: Sheriff's Sale in Pennsylvania

Kristen T.Posted
  • Pittsburgh, PA
  • Posts 16
  • Votes 6

Well, I checked KML website on the off chance they had it, and no go.  But their site sure is easy to use!  Sheriff's info isn't up yet for February, so we have to wait I suppose for now.  I'll keep on looking though and I appreciate any and all of your advice!

Post: Sheriff's Sale in Pennsylvania

Kristen T.Posted
  • Pittsburgh, PA
  • Posts 16
  • Votes 6

@Chris K.  also thank you for that information.  This all helps me to understand the process much better.  I appreciate you all letting me know this isn't going to be nearly as easy as we had originally thought 2 years ago when we waited for this to happen.  Where would we find what law firm is handling the foreclosure?

Post: Sheriff's Sale in Pennsylvania

Kristen T.Posted
  • Pittsburgh, PA
  • Posts 16
  • Votes 6

@Steve Babiak - it's happening due to mortgage foreclosure - he stopped paying in 2015 and I just contacted a company we've used before to start the title search process -- it's worth the bit of money at this point to us to possibly save tons of headaches

Post: Sheriff's Sale in Pennsylvania

Kristen T.Posted
  • Pittsburgh, PA
  • Posts 16
  • Votes 6

@Justin K. - haha, hey, we're neighbors!  I use Pgh as a general area, but we're in Sarver/Saxonburg area as well.  Thanks for all the info.  It's everything I needed to hear, but really didn't want to!  We really want this property ASAP because we're otherwise looking for one in the same area to house some summer workers for my husbands business.  But patience will pay off I'm sure, and we'll go ahead with the title search and everything and still go to the courthouse on the 5th to see what's up, but I guess with very low expectations.  I might try to get to the one in January just to see how they work.

Post: Sheriff's Sale in Pennsylvania

Kristen T.Posted
  • Pittsburgh, PA
  • Posts 16
  • Votes 6

Background:  We own a few rental properties, some being right next to each other on one road.  Our commercial property we rent back to ourselves is one of them in this strand, so we know the surrounding neighbors fairly well.  We've known since 2015 that one neighbor, next house in line,  would be foreclosed on at some point.  This neighbor told us he stopped paying his mortgage and would let us know when he was foreclosed on, b/c we have an interest in protecting our other properties, among some other things. 

Well the time has finally come, he called today and told us his house was going up for Sheriff's sale and gave us the date. I called the County's Sheriff's office and real estate division and they actually gave me a good bit of info how this will all work.  But of course, what he can say or teach is limited (he said anyway) so I'm left hanging.  I know we need someone to do a thorough title search for other liens and judgements and tax delinquencies.  But he said the successful bidder assumes all debt, including delinquent taxes and the mortgage.  I know for a fact this man is so upside down in his house it's unbelievable.  He refinanced 15 years ago for so far over the value, I don't even know how.  So let me say, all other things aside or being "ok", this house is worth about 25K.  The current mortgage is 75K (really rough numbers).  Does the successful bidder assume that 75K plus what they bid?  Or did he mean any additional mortgages, if there's a 2nd, 3rd, etc?  I would think this defeats the purpose to assume the mortgage of the mortgage holder who is foreclosing?  He did tell me that the representative from the bank would be the one to open the bid.  So if no one outbids them, then they own it still, correct?  Basically that opening bid is a reserve?

Another investor I talked to earlier today wasn't sure on that, but they said what they personally do, is let the bank buy the home, and then they go to the bank and try to purchase the home.  How do you buy from a bank?  Do all banks have a real estate division that do this? 

Thanks everyone!  Our tenants are usually of a medium to higher class, and we typically have a lot of stay at home moms in our homes.  It's just always been more convenient to those women to be able to do it on their own terms.  We've yet to run into any major repairs that have had to be done, thankfully, they've typically been things we do ourselves on our quarterly walk-throughs for PM, or they've been convenience repairs like sanding and re-staining the decks and power washing the siding and sidewalks.  I guess if it were emergency, I'd have had a different approach.  

We've been landlords for almost 7 years and never had any problems with letting the tenant schedule repairs with the person of our choosing for their own convenience, then the contractor just sends us the bill.  This is how I tend to handle things with our tenants and I'm usually the face, not my husband.  I'm always involved, but not in the "setting of the date and time" if you will of appointments for repairs or things I need a contractor to do at the units.

My husband is handling one right now however and he just told the plumber he needs to go tomorrow and call on his way, and he just is telling the tenant, this is what's going to happen and when.  I don't really think this is fair, but he insists that this is how we should be handling things.  

I don't think there's a right or wrong, but I'm curious as to what everyone else does and what's more "normal".  This is not an emergency situation, it's a nuisance the tenants have had for a while and happily been dealing with that I would like to be fixed before winter, as it's a problem that seems to get worse in cold weather.

Post: Tenant Gifts

Kristen T.Posted
  • Pittsburgh, PA
  • Posts 16
  • Votes 6

Thank you everyone for your input!  I live close enough to this property to keep tabs and do the walk throughs I've learned are essential, but it's not close enough to just drop by a gift or offer a service.  This was actually my first property, and is my "landlord by default" property.  I am going to go with my first gut instinct which is a welcoming baby card and a small Target GC - as @Ronan M. stated, they can get whatever they might need, AND it's close to the townhouse for them.  @Lucas Hall,I've actually read your post before and LOVE some of those ideas!  I really like the discount rent for the holiday, especially knowing it's a tough time for most.  I might try that this year with the good ones!  Plus, it's rent I don't have to claim, right?? :)  Love a win/win situation!  

2 or 3 - 3 stands out and 2 is very simple, but both are much more professional than 1 in my opinion.  Good luck!!

I only do neutral tones because I find that white is actually the hardest and most time consuming to repaint.