paulbeberg, Home Buyer in 99676

What are the monthly dues? When is the foreclosure auction? Is this a one (1) bedroom unit? Ground Floor or 2nd story?

Asked by paulbeberg, 99676 Wed Sep 28, 2011

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This question is about this property: http://www.trulia.com/foreclosure/3062181424--Vail-Ave-SE-Al…

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3
Matt Peters, Agent, Albuquerque, NM
Wed Sep 28, 2011
The court record and legal notices indicate that the foreclosure sale for this property was scheduled for September 8, 2011. Unless it was postponed, the property will be going to the high bidder, subject to redemption by the borrower or someone who purchased the redemption rights. If Suntrust mortgage bought if for the amount owed, it should be coming on the general market in 30-60 days.
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David Staffo…, Agent, Albuquerque, NM
Wed Sep 28, 2011
Hi Paul,
RealtyTrac provides partial data like this to Trulia, hoping to get you to buy a subscription. Their data costs money, but it is also typically a little dated. You can get this info from our county courthouse or county doc search tool. I can tell you based on my experience and a little research for you that this one they are referring to is a 1BR condo in the Eagles Nest Condos at 2800 Vail SE. The county shows that a Lis Pendens (Notice of Default) was recorded on Unit #130 in late June. When it actually goes to auction is anyone's guess at this point. Some banks proceed quickly and it could go to auction any day now (usually in front of County Courthouse at 400 Lomas on Wednesday mornings), or it could take another year, depending on the bank and a number of other variables. You can watch for it in the legal notices in the ABQ Journal or others like the Health City Sun. However, you need to be cautious when buying on courthouse steps (no inspection, etc.). The bank will typically bid what they are owed, often winning these days. If the deal is really good, an investor like me would typically have gotten to it before the courthouse steps, but occasionally one slips by. But sometimes, it looks like it slipped by the investors, only for a winning bidder to find out an investor actually has redemption rights, and then they take it from you! Sound like fun? So, as you can see, playing in the foreclosure game takes some knoweldge and experience, and even then there are pitfalls and risk around every turn. Feel free to contact me as a consulting resource anytime, by text, phone, email, or my website (see my Trulia profile). In the meantime, there is another condo in there listed at $39k right now... been up for quite awhile, might be able to steal this one without all the risk. Happy house hunting Paul!
David
0 votes
Tomsabqhome…, Agent, Albuquerque, NM
Wed Sep 28, 2011
The monthly dues are $220. there is no address for this property but there is one the MLS. listed at $44,000. These units are under 1,000 square feet.

If you have any interest in this or others. please email me at tgallegos505@gmail.com.
Thanks,
Thomas Gallegos
Coldwell Banker Legacy
505-261-8687
WEB: TomsABQhomes.com
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