Be sure and check judgements and other leins on the property. If the owner is having financial problems he probably has let his consumer debt go before his house. They may have or are getting ready to file bankruptcy also.
Each situation and owner is different. Be a patient listener and you will find out all you need to know. Try and be a “real person” instead of someone trying to take something from them. I am sure they have been beaten up by collectors for quite some time.
Posted by [EMAIL="bigpapajason@hotmail.com"]Jay[/EMAIL] on November 22, 2002 at 16:15:48:
Hi, I saw a notice in the paper yesterday that showed a notice of foreclosure. I went to the courthouse today, and found that the loan of $34,416.22 is foreclosing. There are two tax liens also on the property of: $10,749.77, and $6,111.94. That makes a total owed of: 51,277.93. The assessors office shows a RMV of $120,470. That is actually a bit low for what properties like this are selling for around here. So, that makes a total owed of less than half of the RMV. Since they are facing foreclosure, what do I need to do to find out if this property can be purchased? What do I say when I call the owner? Any suggestions on this deal? Thanks, Jay...