A property was on the market as a short sale, then the owner decided to take it off and just let it go into forclosure. Is there a way to find out?

Asked by Betas21890, Raleigh, NC Tue Jan 17, 2012

who the mortgage company is? The owner lives out of state and will not return calls. Any advice...

Help the community by answering this question:

+ web reference
Web reference:

Answers

9
Matt Bossow, Agent, Clayton, NC
Tue Jan 17, 2012
BEST ANSWER
There is a file at the clerk of court that starts with SP for Special Proceedings; you find the file based on the owner of the property; the file will contain all the information you need to establish contact with the correct trustee but it does not usually contain a sale date until the week of the court house sale. It will not contain any lien, judgments, etc... information other than the lien that is being foreclosed on which only tells you the original amount...the amount of the sale can actually be more than the lien amount due to the fees, interest, etc...

Even if you find out the mortgage company listed in the SP file it most likely will not be the company you need to talk with about the short sale and they will not disclose any information to you unless you have something called an "authorization to release" which you can only get from the owner.

Assuming it's scheduled at the court house AND you have that information; you will need certified funds for 5% of whatever amount you want to bid up to...you may not be the only one there; then, there is a 10 day upset bid period that allows someone else to outbid you BUT they must pay at least 5% more than you. If that happens, it starts the 10 day upset bid period all over again and you will have the chance to bid higher….that’s just the beginning.

The only way to purchase the property now would be to contact the owner...as stated in a previous response. Assuming it hasn’t already sold at the court house.

View my profile for my contact information.

If you’re serious and ready to buy I will find the information for you.

Have a good one.
0 votes
Conder Realty…, , Raleigh, NC
Tue Jan 17, 2012
1st) Print out tax record from wakegov.com, 2nd) Pull deed of trust and all liens for the property(by name or book/page both are on the tax record) from online book of deeds , 3rd) Go to 12th floor of county courthouse and use 1 of 2 computers to pull special proceeding number(exp. SP 11 6511) by name of owner, 4th) Special proceedings will have a hard copy folder listed by number with the hearing date and occasionally the foreclosure date with the opening bid.

From these you can find all owners with addresses they have ever used, who the lender/mortgage company is, all recorded liens against the property(also when at the courthouse, look up judgements against owners to see if there will be any other issues), relative dates, substitute trustee, and other important info.

I go to the courthouse regularly and can do this for you if you prefer. Each property must handle differently depending on the situation. Email me at jimmy@conderrealty.com with your name, phone number, and subject property. Feel free to contact me directly @ 919.896.7131.

Jimmy
Web Reference:  http://www.ConderRealty.com
0 votes
Margaret Hor…, Agent, Cary, NC
Tue Jan 17, 2012
Unless you are very experienced with short sales and foreclosures, you don't want to talk to the mortgage company yourself. Why are you interested in this house? If it is just because you think it might be a good deal, then I would suggest working with a REALTOR who specializes in short sales and foreclosure sales, who can probably find several suitable properties for you that are available now at great prices. If you are interested in this particular house, maybe because of its location or something unique about the house, then your best bet is probably to contact the real estate agent who had the short sale listing. That agent can likely tell you what the time frame will be for an upcoming foreclosure. If that agent is also experienced in short sales, they may even be able to take an offer from you to the owner and mortgage company, but I wouldn't count on that. You may end up waiting for the foreclosure to complete and the bank or HUD to put the house on the market in a few months. In either case, if you are not experienced in foreclosure sales, you need to work with a REALTOR who is. There are lots of pitfalls in foreclosure sales.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Tue Jan 17, 2012
If you are lucky the clerk of courts will work with you to see if it is on their books for auction or if it has been done. They have the records but sometimes they are not too helpful. Good luck with it
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Tue Jan 17, 2012
If you are trying to get to the bank to save the house by buying it - save your time. 1st of all the bank does not currently own it therefor they are not able to sell it to you! The foreclosure procedure is what transfers the ownership from the ex seller to the bank -- NOW they own it. It is still unlikely that you will find anyone to talk to about it after the foreclosure auction either. just wait for the bank to assess it's value and list it for sale. If you are next door you will see the sign.
0 votes
Brian Garff, , Raleigh, NC
Tue Jan 17, 2012
If the property has a sale date you can usually find it on the website of the trustee (attorney) holding the foreclosure sale. Most of them list the sales coming up in the next month, but some only publish what is happening in the next 7 days (like Shapiro & Ingle). If you still want to buy the house you need to find out who the trustee is and when the sale date is. A couple of days before the sale you need to go down to the courthouse to look at the record and make sure its not encumbered by a tax lien, etc. Then, if everything looks good, you go to the courthouse on the day of the sale and bid on the property. There is more. You can call me at 919.741.8627 and I'll answer the rest of your questions. I don't charge for the information and I'm not going to hard-sell you. I've done a lot of these so I've made all of the mistakes.

Brian
Web Reference:  http://www.homehelpnc.com
0 votes
Marshall Rich, Agent, Raleigh, NC
Tue Jan 17, 2012
Yes, you can find the mortgage liens on the Tax Records, but you will need to go downtown to find all judgements(also liens but not mortgage liens) against a property. You will need to know this prior to beginning negotiations with the bank. Feel free to call me at 919-697-5320 for any additional info
0 votes
Krista Abshu…, Agent, Fuquay Varina, NC
Tue Jan 17, 2012
This is information that is available in the North Carolina Tax records. Feel free to contact me by email with the home's address and I will gladly look it up for you.

Have a great day!

Krista
0 votes
Megan Bower, Agent, Belleair, FL
Tue Jan 17, 2012
In Florida, Realtors can find that info on the tax records. Have you check there? If not, call the listing agent who had it listed and see if they will help you.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more