All Forum Posts by: Ronald Bourgeois

First do a drive-by and see if the Mobile Home is vacant.  The Auction.Com transaction details has the following disclosure.  [ While this property is reported to be vacant, buyer is responsible for obtaining possession ]  I'm looking at the listing in Mancos.

The Inspection report states the property as vacant.

If you bid on this property, I would insert in the bid form online that you want a "Clear and Marketable Title for the Mobile Home and Land" 

I have never worked with Auction.Com but I have worked with Hubzu (Altisource) and I always include that clause.  If they can't produce both you should be able to back out of the deal.

@Stanley E.

No problem, but I really think you just wanted a free Rabbits Foot.   :)

It's possible that the winning bidder got cold feet or did his/her due diligence after winning the bid and backed out.

I have listed a few homes for Hubzu, they are legit and part of Altisource - Ocwen.

I always tell the buyers and agents that they need a lot of patience with online auctions.  Sometimes I give the buyers a Rabbits Food for good luck.   (Friday Humor)  

@Patrick McKenna

Curious, what was your 'Cold Calling Banks" like?   Did they offer any advice?

-ron

Generally all Bank Foreclosures will be listed by a Real Estate Agent.  It could also go to Auction, but generally the Bank will buy it back.  

The Bank may be paying the property taxes.  Go back to the Assessors Office and ask who is paying the taxes.  If the taxes are being paid by the bank then it is a good guess that the property is Bank Owned.

My suggestion would be to find a local Real Estate Agent with REO experience and talk to them about the property.

The whole process is long and slow,  Patience is key.  :)

Good Luck

-ron

If you have established credit try the crowd-sourcing site  Lending Club . Com  If all the pieces fit, you could have your personal loan in a few days.  

From my experience as well and for what it's worth. Always, always use your Title Company / Lawyer and have your own title search done, always!   I'm in MA we use Lawyers to close and record the deed.  

@Duriel Taylor

Are lot rents really $650 per month in that area?

@Tawny Bloom

Tawny,  What are the monthly rent/lot rates?  

Do you have affordable housing units in the area?  Have you reviewed any options with the local COA?  Council on ageing.

My concern would be upkeep and mobility as your mother gets older.  Check in with you COA and see what advice they have.  I think I would opt for Affordable or Senior Housing with no yard work, upkeep and repairs that are needed with a mobile home.

@Celeste Fackrell

Sam,  Curios are you living in the park?