Posted by BILLY BOB on May 23, 2001 at 21:36:38:
THANKYOU RON, I WILL PUT THAT IN MY TO TRY FILE ALONG WITH GOOD IDEAS FROM OTHERS
forclosure auctions - Posted by BILLY BOB (CA)
Posted by BILLY BOB (CA) on May 23, 2001 at 19:53:45:
I WENT TO AN AUCTION THE OTHER DAY TO BID ON AN OLD REHAB,THE OPENING BID WAS HIGHER THAN I WAS WILLING TO GO GIVEN THE FACT I WAS UNABEL TO SEE THE INSIDE. ENY IDEA’S OF HOW I WOULD HAVE SEEN THE INSIDE OR POSSABLE NEGOTIATION OF CONTRACT AFTER AUCTION?
Re: forclosure auctions - Posted by Ronald * Starr
Posted by Ronald * Starr on May 23, 2001 at 20:22:09:
Billy Bob (CA)-------------------
Check with the trustee’s sale service to get a telephone number for the lender. I’m assuming they got it. Call and ask for their Real Estate Owned Department. Try to find out if they will be reselling the property.
Remember a lot of the properties go to HUD or VA, and can not be bought from the lender. Ask about that of the lender.
A lot of lenders will not sell right away. They list with brokers after getting an analysis of the value. But, you don’t know about this lender until you talk to them. They may be eager for any offer they can get.
One suggestion – do not get emotional about one property. Treat this like a business, look at many, make low offers on many, get only a very few. If this one is not a deal, “NEXT!” is your battlecry.
Good Investing*****Ron Starr*************