|
|
 Expert
Posts: 2276
  
Location: ohio-in my own little world with pretty ponies :) | So there is a foreclosure in the area we are looking for a house. It has papers in the window saying it's a foreclosure and it's been winterized but nothing else about it. How do we find out info about it? We just happened to notice papers in the window and stopped to check it out. My parents house was a foreclosure and they had a hard time finding anything about it and who to talk to. Our realtor is working on it but in the mean time I want to try to do some research as well. Any advice is appreciated! Thanks!! |
|
| |
|
 The Famous Hot Wing Chicken Girl
Posts: 2964
| Some websites such as realtystore.com will give information about foreclosures, or you can look on bank websites. 99% of the time you are going to have to pay a fee to find out information about foreclosures. They provide very limited access unless you do so. We paid a $1.00 fee on realtystore.com and as long as we cancel it within 30 days, that's all we will be charged. After that they charge you a monthly fee of $49 I think.. |
|
| |
|
Expert
Posts: 2276
Location: ohio-in my own little world with pretty ponies :) | I found it on there!! Thanks :-) |
|
| |
|
 Goat Giver
Posts: 23166
 
| We bought our house in foreclosure. Found out about it through the abstract office. You need to research things like back taxes and leins other than the one the house is being sold to collect against the property. You will be liable for those type things. We lucked out and got a great place for a reasonable amount of money, but it doesn't always happen like that.
Oh, and you also had to have cash to pay for it the day of the auction. |
|
| |
|
 BHW Jr. Cougar of the Year
Posts: 14957
Location: Heart of Texas | Has it already been foreclosed on, or is it still waiting on the auction?
The courthouse has a "wall" of foreclosures. A list of every place that has gone into foreclosure, and when the sale is. At least in my county. First, find the address, then look it up in the Appraisal District for that county. Once you find out who owns it, check out the wall, see if you have time to get the proper info before the auction. Take the info to a Title company and let them run title on it. Do not attempt this on your own. Could result in disaster. They will tell you what other liens, if any, exist. It's possible that the bank already foreclosed and bought their own loan back. If that is the case, you will have to contact them, since they now own it. If you do buy it from a bank, use a title company and get title insurance. |
|
| |
|
  Damn Yankee
Posts: 12390
Location: Somewhere between raising hell and Amazing Grace | Don't be surprised if the house isn't for sale too.
Do you happen to know what kind of stickers were in the window? Many vacant houses, particularly those with winterization notices, sit vacant for a very long time, some for two years or more. Many of them are caught up in legal litigation. Part of my job is to do by weekly inspections on vacant forclosures to keep up with any concerns/repairs/damages/vandals etc etc.
The county assessor's office can have some information. If it is for sale, definitely research for any leins etc. |
|
| |
|
Expert
Posts: 2276
Location: ohio-in my own little world with pretty ponies :) | They were winterization stickers. I was able to find out from the website mentioned above that it was purchased by a bank in Michigan in 2012 by auction. |
|
| |
|
Damn Yankee
Posts: 12390
Location: Somewhere between raising hell and Amazing Grace | lexyy12 - 2014-04-06 7:52 PM They were winterization stickers. I was able to find out from the website mentioned above that it was purchased by a bank in Michigan in 2012 by auction.
Many times forclosures are sold from one bank to another several times. |
|
| |
|
Expert
Posts: 2276
Location: ohio-in my own little world with pretty ponies :) | Is it possible to call the bank that owns it and find out what's going on? |
|
| |
|
Goat Giver
Posts: 23166
| lexyy12 - 2014-04-06 7:43 PM Is it possible to call the bank that owns it and find out what's going on?
They will not tell you much. I was able to confirm that there would be an auction and that was it. It could have been cancelled right up to the last minute if the owner made things right with the bank though. |
|
| |
|
Expert
Posts: 2276
Location: ohio-in my own little world with pretty ponies :) | Gaaahhhh! This is so frustrating!! Pretty nice barn and the house isn't bad either. |
|
| |
Folks on-line