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My area has not been hit with the foreclosures and short sales of many of the other markets around the country.
I have been working with a good client who gives me lots of business (he's a bank loan officer) and we have ran into a situation.
There is a house in our area that noone lives in, the taxes have been paid, but there are foreclosure notices on the property dating back to November of 2007. The 2007 and 2008 taxes were paid.
Suntrust originally had the loan on the property and that is who the lein holder is on the deed still. however, they tell me that they sold the loan to Bank of America.
My guy wants to make an offer and is getting ansy with me. I don't want to disappoint a good client, but I can't get answers anywhere....
You have to do the leg work with the governmental offices. The courts probably have records of who filed the foreclosure and anyone that showed in court for either the lender or borrower, that is vital info.
The tax offices have to have an address of who services the loan and / or pays the tax bills.
The sheriff or clerk of court probably handles auctions.
Practice being nice to government employees, following silly rules about not having cameras, cell phones, pens or pencils, and paying fees to get photocopies of everything and generally getting a first hand look at red tape and bureaucracy...
Might want to pay for a title search too, they probably have access to the same info that you will find in person, but they generally organize stuff a little neater.
You have to do the leg work with the governmental offices. The courts probably have records of who filed the foreclosure and anyone that showed in court for either the lender or borrower, that is vital info.
The tax offices have to have an address of who services the loan and / or pays the tax bills.
The sheriff or clerk of court probably handles auctions.
Practice being nice to government employees, following silly rules about not having cameras, cell phones, pens or pencils, and paying fees to get photocopies of everything and generally getting a first hand look at red tape and bureaucracy...
Might want to pay for a title search too, they probably have access to the same info that you will find in person, but they generally organize stuff a little neater.
Good Luck!
Excellent advice Chet, especially about going out of his way to be nice to government officials - most ppl treat them like dirt, so being nice, complimentary, recognizing the 'hard work' they do and following all the silly rules will go a long way to getting things done.
If we get a house under contract and it fails to close, then we get another contract and it closes...
no one offers us more money.
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