Updated over 7 years ago on . Most recent reply
NC Preforclosure info/help
Hello! I’m trying to buy my first investment property. I found one that I’m interested in. It’s in a nice area and the homes around it are b-c condition. I went to the home today and parked across the street at a church. I got lucky and met with the home owner that lives across the street. He filled me in with what he knew.
1. Owner is dead with no will and no next of kin.
2. He was a hoarder but said there was a few people in there a while back cleaning it out.
3. Said he believed it would be in good condition. Said the roof had been replaced about 3 years ago.
4. Said once the owner turned 69 started taking loans on the property to fund his hooker problem.
5. There is a nice mid 2000 dodge truck in the driveway and a new husq zero turn mower in the garage.
6. 4 bed 1 bath and 2300sq feet. Brick home.
I did a quick title search and came back with 4 liens from the same lender for 25-38k.
My a friend of mine said all I need to do is make sure the foreclosure is on the first line against the property and if the auction is won, the rest goes away.
Currently it’s at a price I can pay with cash and it expires on Monday.
Any help is appreciated!!