All Forum Posts by: Doug Ruddle

Marty, what type of search are they doing for you? Are they insuring it after the sell?

thanks for the link Steve, I will read. Marty I would love to do that but it is an online auction only. Florida

Now that's what I call a thorough answer. Just spent the last hour reading the thread. There's always that one person on forums that knows it all and wants to start some mess, you handled yourself eloquently. Yes there is a senior lien and the lis pendens was filed in may of this year. I have not been able to find equity amount or original loan amount. Thanks alot for the help,

The below auction sold property was a condo that had a lien from the condo assoc. of $8,456 there was a lis pendens filed on 5-1-12 by Fifth Third Bank. The property is worth around 70,000. I have no numbers on the mortgage loan and I was wondering how you buy this property not knowing the arrears on the mortgage?

Auction Sold

01/04/2013 10:52 AM ET

Amount

$8,500.00

Sold To

3rd Party Bidder

Auction Type:

FORECLOSURE

Case #:

522012CC003746XXCOCO

Final Judgment Amount:

$7,361.40

Parcel ID:

24-31-15-47313-000-1000

Property Address:

552 PLAZA SEVILLE CT 100

TREASURE ISLAND, 33706

Assessed Value:

$82,306.00

Plaintiff Max Bid:

$8,456.10

Wow, so my options are:
1. Don't invest in auction properties
2. Learn to do thorough title searches
Any good material that you guys would reccomend on title searches and which option above would you choose if any. By the way, I am looking at the St Pete area and want to start small (condo or small home) I have some rehabbing experience from a company that I owned.

So you would be okay with 40 years? Have any idea on cost?

If you are going to bid on an auction property, what is the best way to ensure a clear title prior to bidding. The title companies that I've talked to will only do the current owner research and of course will not give title insurance. I am fully aware of all the county records. But I'm not confident enough in my abilities to feel comfortable placing a bid. thanks,