Posted by William on December 10, 1998 at 24:17:54:
Thanks Johnman. I compliment you for sticking with it. It shows your determination. All of it was a valuable lesson to be learned. From this you can learn alot about dealing with people. Keep going no matter what people tell you as I have said since I was thirteen. Don’t listen to people unless they are where you want to be.
Keep on truckin.
Update: FINAL (disbarred lawyer won’t give in) - Posted by Johnman
Posted by Johnman on December 09, 1998 at 17:50:23:
Well folks, not too good. I approached the disbarred lawyer today and asked him why the sudden interest in the property. His response was he has always been interested in the property but just doesn’t have the money to fix it up. He also said “at this time” he isn’t interested in giving me a quit claim deed. Well I guess I’ll just have to see what happens in Feb99 when the property goes up for auction.
He said once the property is offered at an auction, another bar of redemption needs to be filed. Do you (anyone) how you can get clear title to a property from an auction? What is the whole process of purchasing a property from an auction (tax lien sale)?
He was implying that it won’t be over even though I buy this property at auction. He really wants to stay there rent free.
Any thoughts?
Johnman
Re: Update: FINAL (disbarred lawyer won’t give in) - Posted by MilNC
Posted by MilNC on December 10, 1998 at 14:45:27:
Some people can say “why waste your time”, but on the
other hand, you have learned alot from this
“worst case scenario” with shades of “Pacific Heights” (the movie in which Michael Keaton moves into an apt in a house and WON’T leave, drives other tenants out,
locks the landlord out and the law is on the tenant’s side).
We have all learned, too, and it raises some questions.
(Like how to cast the movie! I’m thinking Rod Steiger or Gene Hackman as the disbarred lawyer/tenant.
Just add in a love interest and you’re on your way!)
From a library book “North Carolina Real Estate for Brokers and Salesmen”…
“aftter a foreclosure sale, a borrower or others may submit, within ten days follwing a fc sale, an “upset bid” in an amount which exceeds the highest bid at the fc sale by a stated margin (not the balance due the lender)
and thereby force a “resale” of the property> If there is no bid exceeding the upset bid, then the party submitting the upset bid will be deemed the highest bidder and a second ten-day upset bid period will commenceas of the resale date. This process of upset bids and resales may continue indefinitely until there are no more upset bids, at which time the foreclosure sale will become final and the borrower’s right to redeem the property will be terminated.”
I am NOT an atty, NOT a realtor, I have never done a foreclosure, but the way you have
described the “tenant” is sounds like he is familiar with a process something like this. I’d check the local
laws and the foreclosure process ( OK, in your spare time while you are MAKING OFFERS on other properties–which is how you are supposed to spend most of your time!!)
Knowing what you know about the property, you might
just want to bid on the tax lein/deed and collect some
fees, at some good interest rate and figure it will be
redeemed, as most are anyway, and maybe that is what
this lawyer is planning to do.
Just depends where you are at in your scheme of things
how you spend your time, but I would not want to let
go and NOT find out what happens down the road. Look at
all the information you have already. It would be great
fun to see how it plays out.
This is a GREAT story!
There is the fact that you know more than anyone else
about this guy, so you can see what happens down the line.
Just a thought.
Don’t try to win, try to learn.
Mil
Re: Update: FINAL (disbarred lawyer won’t give in) - Posted by jJohnG
Posted by jJohnG on December 09, 1998 at 23:27:05:
First you come on trashing some really good people who support this board with their knowledge and advise that is freely given even though its worth lots and lots (to those who will listen and learn)
Then you come up with some complicated deal that is clearly out of your league.
Some thoughts ?
GET A HAIRCUT AND GET A REAL JOB !!!
Re: Update: that might be it!!! - Posted by Johnman
Posted by Johnman on December 11, 1998 at 24:21:52:
Mil,
Your description of the upset bid is what I think the disbarred lawyer had in mind. He did mention to me that it will not be over even though someone has bought the property at auction. He said that another bar of redemption must be filed after the sale. I just didn’t catch who is to file this bar of redemption. As soon as I find out more I will make another post.
Thanks for the input.
Johnman
Re: Update: FINAL (disbarred lawyer won’t give in) - Posted by NiceGuy
Posted by NiceGuy on December 10, 1998 at 08:23:00:
I agree that Johnman came in here with a smartalec attitude, but I think that after that one incident, he found out how tight and friendly this group was. I know that other forums I have been on has allowed trash talking and adolecent behavior. Johnman has recently had some honest posts and I think he learned the lesson. If he is going to act the way he did with whoever it was (Soapymac I think), that he will lose the support of this group, which is very valuble. Lets give him another chance.
BEFORE YOU OPEN YOU BIG MOUTH - Posted by JOHNMAN
Posted by JOHNMAN on December 10, 1998 at 24:03:08:
I SUGGEST YOU READ FIRST. ARE YOU CAPABLE??? I DID NOT TRASH OTHER PEOPLE. I RESPONDED, I WAS MISINTERPRETED AND THAT WAS THAT.
NOW, WHO ARE YOU ANYWAY? IF YOU DON’T LIKE MY SHARING OF MY EXPERIENCES THEN DON’T READ MY POST!!!
YOU HAVE NO IDEA WHAT THIS DEAL WAS ALL ABOUT. THE ONLY COMPLICATION WAS IN THE TITLE THAT WAS CREATED BY THE DISBARRED LAWYER. SO THAT MEANS MOVE ON TO THE NEXT ONE. I DID LEARN A LOT FROM THIS EXPERIENCE. THAT’S ALL THAT MATTERS IN THIS SITUATION. IT WAS WORTH THE EFFORT!
IF YOU THINK I DON’T APPRECIATE THESE PEOPLE THEN YOU ARE ABSOLUTELY WRONG!
I HAVE NOTHING FURTHER TO SAY TO YOU!
To everybody else,
I apologize for this but I just had to respond to this nonesense.
Johnman