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All Forum Posts by: William Coet

William Coet has started 207 posts and replied 570 times.

Post: Nobody Showed At Foreclosure Auction, How to Buy Now?

William CoetPosted
  • Lititz, PA
  • Posts 580
  • Votes 271
Originally posted by @Tchaka Owen:

@William Coet - contact the attorney representing the bank and let him/her know you want to buy that property. 

 Thanks Tchaka,

Any idea how to find out who the attorney was/is?

Thanks!

Post: Nobody Showed At Foreclosure Auction, How to Buy Now?

William CoetPosted
  • Lititz, PA
  • Posts 580
  • Votes 271
Originally posted by @Adriese Williams:
  • Go back to courthouse, or place of auction
  • put in upset bid, usually 5% over current bid, 
  • wait 10 days,
  • get ready to purchase, if no one upsets your bid.
  • This is the process in NC, check your state regulations

 At first glance, New York State does not allow upset bids.

Post: Nobody Showed At Foreclosure Auction, How to Buy Now?

William CoetPosted
  • Lititz, PA
  • Posts 580
  • Votes 271

Hello,

The bank (HSBC USA) held a foreclosure auction last week and nobody showed.  The bank bid in the 40's.  

How can I buy this property?

Thanks in Advance,

Bill

Post: Locating Bank That Owns Foreclosed Home

William CoetPosted
  • Lititz, PA
  • Posts 580
  • Votes 271

Update:  I found out the house went to auction last week and nobody showed.  The bank bid in the 40's.

It is owned by HSBC USA

How can I purchase this home?  Will I be able to purchase it for what the bank bid at the auction, or less or more?

Thanks in advance for any help!

Post: Locating Bank That Owns Foreclosed Home

William CoetPosted
  • Lititz, PA
  • Posts 580
  • Votes 271

Hello,

I know the home is bank owned, but cannot locate the bank that owns it.  Any suggestions would be appreciated.

Thank you

Post: Taxes, taxes and more taxes

William CoetPosted
  • Lititz, PA
  • Posts 580
  • Votes 271

"Progressive" board members claiming to be champions for tenants don't realize they are taxing the tenants indirectly.  Property tax creep (gradual or not) is a significant problem in some communities.

Post: RV Resorts - Construction Costs

William CoetPosted
  • Lititz, PA
  • Posts 580
  • Votes 271

Ouch

Post: RV Resorts - Construction Costs

William CoetPosted
  • Lititz, PA
  • Posts 580
  • Votes 271
Originally posted by @Matthew Paul:

It all depends on the location and local codes . My neighbor is a civil engineer . I asked him how much to build a campground .  Now for water , sewer , electric , roads , and sites ,and all the site work  it was $75,000 per pad . This doesnt include  Store/office building , maintenance building , real expensive water feature/ swimming pool , shuffle board , bounce pillow , and all the maintenance equipment , tractors , mowers , backhoe , skidsteer . then there is the golf carts that you rent , game room , laundry room , etc . 

Now all this DOES NOT  include the cost of the LAND 

Ouch

Originally posted by @Luke Miller:

@Jon Schwartz what are you trying to accomplish with your data? Too much will fog your results. If you're looking for "good" multifamily markets i'd add the affordability index (I like places where it's still affordable to live) I would add landlord friendly states, barriers to new construction, housing starts, job diversification (by industry), and a bunch of others. All depends on what you're trying to accomplish. 

Barriers to Construction- What factors determine this?

Thanks

Many homes on the east coast are 100+ years old and located in historical districts.  They do not need to be torn down and reframed to meet current code.