Need Quick Help Please!!
Hello Seasoned Investors,
During my first visit as a newbie to my county sheriff sale website few min back (I went to familiarize myself for potential future foreclosure investments) I found a property virtually next door to where I live and I in fact I know the owner as well.
Few facts taken from the website before I type my questions:
- The Case Type is: Complaint In Mortgage Foreclosure.
- Somehow the current appraisal price is way too low than I would expect.
- The most recent docket text states: COURT ORDER IN REAGRDS TO PLAINTIFFS MOTION TO REASSESS DAMAGES ON 01/31/2014 TO XXXX AND SHERIFFS OFFICE ATTN: YYYY
- The sale date is listed as postponed to 4/30/14.
Not sure how to approach this given I am new to all this and was not anticipating such a sweet deal which I could manage so easily as 'buy and hold' goal for this year.
Things I am not sure about:
1. Should I try to even approach the owner to find out more ? The concern I have is that I might end up offending the owner!
2. Is bank looking for current estimated price listed on the sheriff sale website or it is just the appraisal price ?
3. What should I do in the next couple of days (as 30 April is not far) to increase my chances to get this property under my belt ?
Looking forward to some expert opinions. Would be happy to provide additional information as I am not sure I gave all what is even needed to give expert opinion anyway and honestly some of my questions may sound stupid. Just too excited after I just found it!