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Foreclosure in 15217 : Real Estate Advice

  • All25
  • Local Info2
  • Home Buying13
  • Home Selling3
  • Market Conditions1

Activity 39
Wed Jan 16, 2013
rockthecasbah121 answered:
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?
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Mon Jul 29, 2013
Benny Smith answered:
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 benny@buyahomenow.com
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Sat Aug 25, 2012
Jeffrey Bennett answered:
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!
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Sat Jun 30, 2012
Justin Cotton answered:
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 jcotto85@gmail.com to discuss further.

Justin Cotton
REALTOR
Remax Renaissance Realt West
725.622.2035
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Fri Apr 13, 2012
Virginia Stump answered:
Search the County's records by the Internet or make a quick call to the Courthouse. The Recorder of Deeds will have the property transfer information from the last sheriff or judicial sale. ... more
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Wed Jan 11, 2012
Jcjan.creighton asked:
-jcjan.creighton@gmail.com or 724-875-1273 thank you ! Interested in any foreclosures/homes in pretty good condition/great neighborhood (prime selling point) -- thanks in advance, Jan
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Fri Jul 27, 2012
The Skender Homes Group answered:
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
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Fri Sep 9, 2011
David Chiles answered:
Yes, you can purchase a home before it goes to auction. It is generally a short sale and has to be approved by the lender. An agent can contact the lender or the homeowner for you.
0 votes 1 answer Share Flag
Sun Jun 12, 2011
Tim Moore answered:
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
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Fri May 6, 2011
Cynthia Bell answered:
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
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Fri May 6, 2011
Brian Teyssier answered:
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
0 votes 4 answers Share Flag
Wed May 4, 2011
BG answered:
some thing doesn't sound right ... your agent should have inside knowledge of this deal. Ask your agent.
0 votes 3 answers Share Flag
Sat Apr 9, 2011
Jade1149 asked:
0 votes 0 Answers Share Flag
Fri Apr 8, 2011
Benny Smith answered:
Agents and brokers will know based on the address how any maintenance is handled.
0 votes 1 answer Share Flag
Sun Jun 12, 2011
Dallas Texas answered:
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
972-699-9111
http://www.lynn911.com
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Mon Dec 27, 2010
Anna M Brocco answered:
If interested in the property, consider calling any local realty offices/agents and ask all your questions--they all have access to the same information.
0 votes 3 answers Share Flag
Sun Dec 26, 2010
Barb asked:
0 votes 0 Answers Share Flag
Tue Oct 12, 2010
Kevin Olson, Jessica Laude answered:
Hello Emily,

I would see if it's possible to pay a title company to do a search for you prior to buying the home. I would try to find out if the home was listed before, and maybe take the listing Realtor out for some coffee to see what you might be able to find out about the home (history and problems). Other than that, it is hard to be certain of what you are buying in a sheriff's sale. It is also possible to see if there were disclosures on the home if it was listed before. This might give you an idea of repairs to possibly expect.

Good luck to you,
Kevin
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0 votes 12 answers Share Flag
Sun Sep 12, 2010
John Juarez answered:
Tia,

You should associate yourself with a Realtor who has experience with helping buyers of foreclosed homes. There are many Realtors who fit that general description these days. Ask your friends, relatives or co-workers for a recommendation. You can usually get a great referral from someone who is pleased with the service that was provided by their Realtor. ... more
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Tue Nov 22, 2011
Kim Beckett answered:
Hi Bill, I am not a commercial real estate agent but have been specializing in reos for about 7 years and have sold both residential, multi-units and commercial property. There is currently a 21 unit multi for sale in Wilkinsburg. Details: GAI 117,600, 5% vacancy, GOI 111,720, insurance 3642., 7600 other expenses, NOI 49,450., taxes 14,390. based on a MV of 268,500. currently listed at 320,000. This is not a foreclosure. If you have an interest, please feel free to call, text, or email me Thanks Again, Kim
Kim Beckett ERA Meridian Real Estate Group 2624 Leechburg Road Lower Burrell, PA 15068
724-351-0457 cell 724-335-5681 X206 office or email kim.beckett@era.com
... more
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