opened in 2006 for $160,000. Then, using this website, https://dcr.alleghenycounty.us/ , you go to civil/family division then user logon then to search or to pay for filings. You can get on using the username "Public" and the password "public". You are then able to check out every lien against a person when searching by name.
My question is how close is this process to complete? Let's say I had done all of this for a listing and there was no outstanding mortgage and there were recorded tax and utility liens but no IRS liens. If I went and bid on the property for the amount of the outstanding liens, would I be in for any surprises?
Also, I had heard that a lot of times the amount listed on the sheriff sale is not the amount the bidding starts at. For the example I used, would the bidding start at the $5,872 + whatever was left on the mortgage + any other outstanding liens?
I know in this example, the bank will probably come purchase this property, but what if there was no mortgage, just other liens, but no one bid?... more
Its easy to know about this home or any other when it is available for offers. Send me any address your name and your email. I never sell personal data to others. I will set up an auto responder so you will know within a couple min of the listing going active.
Benny Smith at firstname.lastname@example.org... more
Possibly! What you will get is a "Sheriff's deed," which doesn't make any promises. (Unlike a "normal" special or general warranty deed, which is insurable). You'll need to do a very careful title search before considering such a purchase, since it's inherently risky.
Sometimes liens are extinguished by prior action of law (e.g., foreclosure), but not always. It depends on how the property got to this point. You might not have a clear chain of title (e.g., flippers and floppers had at it and didn't record all the intermediate ownership changes), and if it's within a year you might even have liens that aren't recorded yet (e.g., mechanics liens; say they put in a $50k kitchen, then defaulted).
If you want to buy these types of properties, I'd talk to people in the office and see if they have any FAQs or other literature that might be helpful. I would also attend a few sales without bidding, just to watch how they go. There may be a small group of experienced investors (the proverbial "usual suspects") who attend these regularly. Always try to inspect the property to the extent possible (each area may have different rules).
As in other areas of life, if it looks too good to be true, it probably is. If you're the only one bidding, and the "regulars" aren't -- consider withdrawing. They probably know something you don't!... more
I'd love to help you find Multi-Family deals around Pittsburgh. I mainly deal in 5-19, but there are a bunch of duplexes/triplexes to look at as well. Email me at email@example.com to discuss further.
Remax Renaissance Realt West
If you have a current WRITTEN lease, you are just fine. That lease will transfer with the exact same terms to the new owner until it runs out. It will however be their decision on the terms and whether or not to renew once it ends.... more
A property that has been foreclosed is just like any other property, it is owned by someone who bought it at the auction on the courthouse steps and is owned by someone or maybe the bank has it now. Now it's a bank owned home or REO property and the bank is selling it. Dealing with a bank as the seller can be different since the bank does not think like you or I and they don't have their personal money in it like we would. They can be stubborn and refuse to fix things and the deed you get will be a special warranty deed. Your agent will be able to guide you through the process.... more
Yes it is possible, you would have to amend the contract to reflect the new terms of the contract.
Check with your loan officer to find out if there are any fees you would still be responsible. Like appraisals, ordering credit reports etc.... more
Thanks for your question on Trulia! Without knowing all of the details and based on the info you have given us, yes. Most everybody in the transaction would rather do cash anyway.
Good luck, hope this helps.... more
Best to contact a Realtor save you time AND will forward you properties based on specifications of lender AND your particulars
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors