Quite often the bank will bid up the price to whatever is owed to them on the loan and if there is a second lien then that lender might also bid the property up to cover their losses.Most likely you can just call the county courthouse and they will tell you all about the auction rules... after all, they WANT to sell those properties for as much as they can and that means they need buyers like you.

What I would like to know is, is it possible for a young person (I'll be 27yrs old after I complete my second degree) like me to obtain financing for commercial properties in the area of, for example, $800,000 - $3million?

The second is my site.

Loss mit is no help ("GMAC doesn't sell notes."). Sale is Thursday. Is it too late to buy the 2nd on this property (at a discount of course.) Does anyone have a better number than loss mit to call to offer to buy the ...

And secondly, will quit claiming from a personal loan to a living trust help protect the assets rather than having to establish an LLC?

Hire a real estate attorney to check on the property to find out if there is a likelihood of re-zoning and other legal issues.

****someone please read the last part of my post, i really need advice on what to do.well, i took the plunge a few weeks ago and purchased a 2BR/2BA condo through an estate sale. it was in really poor condition and so i planned on rehabbing and renting 1BR out for a bit, then maybe eventually move out after 2-3 yrs and look for a second property to invest in. sounds like a decent plan right?

The second link is some free leads for you to get started.

[b]Determine the Costs[/b]During the second phase of the loan process, analyzes the borrower, property manager and general contractor, as well as the the final architectural plans, specifications and construction costs.

If I record it in the courthouse, can the seller, at some future time, get a second or third mortgage on the property without my knowing?