thanks everyone, yeah b.c…my intent was to make everyone aware of foreclosures, but not to discourage ( newbie’s ) or scare them away…just to be prepared, and away’s expect the worst with a " tenant" or previous owner still on the property… i have bought foreclosures, and before the auction have knocked on the door to evaluate the property, some owners have been very nice, and invited me in and showed me around before an auction…This was my first deal i’ve done with my new wife…she did most of the research, due diligence, and was the bidder at the auction, believe me…it’s quite a learning experience for her ( and me with this one ) , but she’s ready to do another…there were a few sleepless nights thinking were gonna have to hold this property for 6 months until everythings wrapped up…and in the meantime be shelling out hard earned money…but if you do your research, and get a good property at a good price, everything should work out in the end…
My atty should have the escrow check in his office today…if not…it’s gonna be the boot for her
I got to thank you for sharing with us on this all proceedings. Like you said it took some sleepless nights but everything came out fine at the end. I am a newbie and I have met a few REI’s in my line of work, but for some reason I never tried to pursue it. Though I had notice how much involvement it takes, I now know that it’s worth while. It will take some short time for me to get my first deal as I want to learn as much as possible on preforeclosures and foreclosures. Your posts had been really informative as I noticed that you have been involved in several sale/buying deals. Good luck for you and your new wife. I’ll remember your login name Sybadon if I have any future questions concerning pre/foreclosures if you don’t mind.
It’s back to court today…of course she hasn’t complied with the agreement, and is in contempt…i did take a drive by…and there was alot of stuff for the garbage men, including some chairs and a table…looks like she’s ready to bail…i’d be surprised if she showed up today, considering my atty. didn’t recived any response from her attys, and he left a few messages, my guess is, there asking her for more money for fees too…we’ll see what happens, gotta go get ready…i’ll post up later with the results…got my for sale sign ready to go up in the yard, and if she didn’t trash the place from the llast inspection…it just needs paint and touch up work…
SYBADON,
amazing!!! I am amazed by her continued stalling(what could she be thinking?)
and I am amazed at your patience. My hat is off to you.
once again…keep us posted. Good luck 
ok, i’ll keep this one brief, went before the judge…he said he will give her one day to comply with the deposit to buy the home, the p.s, the commitment from the bank stating that they would close this loan by feb 6th…We also said the p and s must contain, if buyer fails to close loan by feb 6th, the $4000 is ours to keep…judge also said, if this is not all done by close of business day on tuesday ( tomorrow ) they he will issure execution with no appeal on wednesday, and i can evict her on friday ( after 48hr) notice…just got a call from my atty…he has the $4000 in hand and the p and s and commitment…so things look good…i really want her friend to buy it so i can rid my hands of the property, but …i got the 4 grand n hand now which ease’s the pain…already working on another deal …this one should go smooth…thanks everyone
Amazing…
Wow, what a story!
I hope you took photos of the home and its condition. Foreclosures are sold as is. The first one I went to the lawyer told me she has seen it all. One home that she saw that was foreclosed on, the owners took up the floors so no one could walk in for the auction. She did say however that there are more laws now. But it never hurts to take a photo.
Took up the floors?!?!? LOL!! That’s a good one! I’ll jump into the shark infested waters of foreclosures within the next week or so. I plan on attending a couple of auctions before bidding so that I can get a feel for things. I have a couple of questions.
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Does anyone know what needs to be done in order to bid on someones behalf? I will be bidding on behalf of a family member. When I called the attorney’s office, I was told that I would have to put the property in my name initially and would then have to transfer. I would prefer for it to be in their name from the beginning since it won’t be my property. I’m thinking that a Power of Attorney would fit the bill, but I’m not sure what needs to be done. Any suggestions?
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Sybadon, what state are you in? I just had to ask. lol. And thanks for sharing your story. It was very informative.
hey ed…yep…had to get a court order to get in…but took plenty of pictures, and took my appraiser in there also…and a cop as witness…i live in massachsuetts
That was a smart move. Did you have to pay to have the officer as an escort?
I am in Ct.
Just trying to become an investor myself so I am reading as much as I can including the message boards to see if I can find all the steps needed.
I live in CT.
no, i didn’t have to pay him…he’s a friend of mine who was on duty that day…anyhoo…she didn’t get all the paperwork to the atty’s as of this point…sooooooo it’s back to court tomorrow…my atty talked to there’s …they said they were running around gatherin up paperwork…blah , blah…don’t look good for the " quik sale " …thats ok , im gonna list it for a higher price…got the same exact home across the street…just the opposite floor plan ( garage is on the opposite side )but identical…it’s up for $399k …i figured i’d do an open house whenever they do one…and i’ll put this one up for 389k…free advertising…so a repeat showing for my 5 unit too, that’s good news, and another showing on friday…really gotta free up some cash…something will give…i’ll catch ya’s in the chat room later…and i’ll post tomorrow’s episode of " how the foreclosure turns " when i can
BUMP!!!
Any updates?
any updates? …
Yep, closing is scheduled on monday morning ( feb 6th )…worked out great ( if, in fact we close ) , that means, no work done to the property ( painting, ect, ) no need to list it myself for sale,
and 2 month flip… ( closed Dec 2, Sold ( closing ) Feb 6th… NICE ! thanks for all the support from everyone, and hope everyone learned something from this foreclosure experience, …I have …If and When …we sign papers…i’ll post the final post on this thread…
Good day …
Way to go Sybadon
Thanks for the update
Bruce
Sybadon,
for crying out loud! I’m at a point where I personally want to get there and kick her @$$ out myself! and I live in Utah. What a valuable lesson to all of us newbies. Can’t wait to hear what happens tomorrow.
E
Not bad all, I got to take my hat off to you. This is not a fast and easy routine of buying preforeclosure homes. We all notice it became hectic, but evidently you played your cards right.
Good luck, selling the house which I don't think you need it, I took a look at the picture you posted and the house looks great.
crazy b#@h, Next u might want to get a restraining order :-X so she can’t get near you!!! Watch your back
congrats on the gold mine