Quote:
Originally Posted by LordSquidworth
Not sure who the lien holder is, as the people on record for owning it for awhile still own it, and my offer went to them by name. I can't find any record of a bank having it, though there is a mortgage on it.
Any insight into it?
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Its likely a short sale. So to do some basic research on it, look up the owner's name at the registry of deeds, its online in Maine. Then look at recent mortgage refinances, etc.
Its possible they owe $300k on the place and have refinanced 5 times with 2nd mortgages. So your offer of $70k might not even be in the ballpark.
Typically with shortsales in Maine, the bank never wants to take less than what is owed, and the owner gets foreclosed on and the property goes back up for sale a couple years later.
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