Home Buying in 04330>Question Details

Katie, Other/Just Looking in Augusta, ME

Can i buy out my landlord?? He has been unattainable since october '08.

Asked by Katie, Augusta, ME Sat Feb 28, 2009

I pay for the oil since september. Made repairs that i can. I am saving up the money to fix the electrical problems and soon the roof that is in poor repair. I live in Augusta Maine and want to own the house but im not willing to put alot of money towards the buy. Its not worth more then 20,000. My land lord last summer was served with forclosure papers but i dont know were that went. What can i do. I have druggies in my building that need to GO. and no land lord willing to evict. Theyve lived here for over a year and have not paid. Please help

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Answers

6
wow... katie... you are in a tough spot.

I might start with consulting a lawyer to determine your position. At some point you could be in a position to purchase the property like anyone else, however if you can find out who holds the mortgage, you may be able to consult directly with them.

unfortunately you are powerless against the others that live there...

email me privately and I may be able to give you a little information IF i had the address of the building.

Jeff@MainesHomeInspector.com

It will come down to the bank establishing what they want for the property, what you can afford/offer and a lot of negotiating... you will need a good realtor and lawyer likely to help. The property should be inspected as well to ensure your not buying a money pit...
1 vote Thank Flag Link Sat Feb 28, 2009
In Augusta Maine if you want to find out who owns a property you just need to go to the cities web site and select assessors office from there you can pull up the tax records and it will tell you whom owns it and their address
0 votes Thank Flag Link Wed May 30, 2012
Hi Katie,

Well you are in a complicated situation, however the possibility could exist where buying out the landlord could work. I am a local Real Estate Broker here in Augusta, and I would be happy to go over steps for a short sale or foreclosure with you.

Debby

Please give me a call at 462-9583 or I can be reached at the office.

Century 21, Venture Ltd.
1 Orchard St
Augusta, ME 04330
622-6221 x 240
0 votes Thank Flag Link Sun Mar 1, 2009
Katie,

Jeff's answer below was very informative and on the right track. Thumbs up on the advice below.
If you can find the lender's name and consulting an attorney and Realtor in your area, you'll be on the right track.
Best of Luck with your situation, it's sounds tough, but you're asking all the right questions.

Deja Lett
Web Reference: http://www.hometeamadv.com
0 votes Thank Flag Link Sun Mar 1, 2009
Go to the registry of deeds, search the name of the owner and see what happened, who owns it. Its all their at the Registry of Deeds.

As far as buying out your landlord, go see who owns it first. Once you find out, get qualified for financing, then hire a real estate BROKER (not a sales agent) and go from there.

Good luck.

Victor Chau - Real Estate Broker

Gammon Realty Group
1274 Bridgton Rd
Westbrook, ME 04092

Cell 207.749.4699
Fax 1-212-400-4219
Office 207.854.0003
email : Vic@VicsRealty.Com
http://VicsRealty.Com

"Helping Buyers and Sellers 1 house at a time."
Web Reference: http://VicsRealty.Com
0 votes Thank Flag Link Sun Mar 1, 2009
you certainly could if you could reach him and make a deal with him that you could afford to close on. Might be a better idea to cut your loses (and reduce your frustration) and move on.
0 votes Thank Flag Link Sat Feb 28, 2009
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