How can investors find out what the bank paid for the property? I've looked in public records and other sources and haven't gotten a solid answer to help me sleep at night. Insight on this would be greatly appreciated.
bank paid? Look at their judgement and it outlines their costs. Who cares what the old loan was though, that was then...worry about what is now.
I have a different perspective. I'd use that type of information to help determine the true value of the property. Certainly don't want to offer the bank more than what they paid for it or over pay if that makes sense.
It doesn't actually make sense. Base something on current comps and current market trends. Don't bother trying to figure out what a prior value was once upon a time.
Whatever someone bought something for is in the past. Don't judge a cart of apples based on what the seed cost to plant the tree.
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