Posted by Brian D. on August 22, 2002 at 12:02:05:
I heard from one of my neighbors that the house next door was in foreclosure. If you drive by, it looks crappy (unmowed lawn, etc.), but you could fix it up pretty easy.
I then went to the county assessor’s website to see who owns it so that maybe I could make them some kind of offer before it goes into foreclosure. It turns out that Homeside Lending is the owner now.
I noticed that the home sold for $96,000 back in 1997. What I’m wondering is what do I do now?
The home is probably worth $125,000 in my area. There is no “for sale” sign or realtor sign out front.
Should I offer $90,000 and see what happens? (assuming I can even find the right person to talk to at the lending company).
I figure that the mortgage company wouldn’t mind having a quick sale, and I’m guessing that their basis is something like $85,000.
Thanks for your time.
Brian in
Colorado