All Forum Posts by: Anne Williams

@Mike Cumbie, Yes that is what I mean,  after I make the payments in full and get the deed. So at that point I shouldn't be worried about entering the property and making renovations?

Hello Everyone,

    I want to buy a condo at a sherriff Sale in NJ , but I want to do my homework first. I know there are liens and outstanding debt that needs to be paid. I've heard from some of my sources that the owner made renovations to the condo and those costs may be attached to the property.

I basically DO NOT want to get burned with this purchase so I'm trying to find out as much information as I possibly can BEFORE bidding at the auction. 

Also, the property was previously purchased last year at the auction but for whatever reason the successful bidder did not close and backed out of it and as a result it was put back up for sale.

Please provide me with some suggestions of companies that do comprehensive title searches that are not too expensive.

Hello BP Family,

      I am interested in buying a condo at a sherriff Sale in NJ. I've gone by the area and spoken to neighbors and they have confirmed that the owner does not live there and nobody lives there any longer. They said the owner may come by once every 5 months or not at all. I've also spoken to the security guards for the complex and they also said that the condo is vacant and has been for over a year now.

With that being said, would I be able to go in and change the locks right away if I am the successful bidder at the Auction? After I have closed and received the deed, can I move forward to enter the property and start renovations? 

I really hope that I would not have to wait around and file the writ of possession, which could take months before I can enter especially since I plan on living in the property.

The neighbors doubt the owner will put up a fight but I'm still seeking advice from those who have gone through the auction process before....

@Ibrahim Hughes

Will a title search reveal all liens?

@Anthony Aiello

its been a challenge to do so ..

@Ibrahim Hughes 

I haven't done a title search yet but will do one before the auction.

What is a payoff statement?

@Joe marella, I've tried reaching the HOA but have been unable to speak with them to determine what I would owe..

Hello, I'm planning on buying a condo at Newarks sherriff sale...but when I did my research, I noticed that the property has thousands of unpaid HOA fees...I keep getting mixed reviews, some say I would only pay 6 months , others say I'm responsible for all HOA fees...

Anyone have any insight?...if I don't have to pay the HOA fees then it would be a good deal.

Hello Everyone,

So there are two properties on the market for sale on the same block by the same realtor. One is in impeccable move in condition, the other isn't horrible but needs some cosmetic work. I spoke with my realtor about putting in offers on both, but would probably offer less for the one that needs upgrading. 

When the time came to put in the offer, he is telling me that based on what he and his broker knows, I can't put in an offer for both properties unless I actually plan to buy both, because if my offers are accepted I would have to honor both contracts. He is saying I have to choose one and then see how that goes before putting in another offer

Is this true? I have had a realtor put in two offers for me for houses in the same neighborhood that were on sale at the same time. I'm assuming if it so happens that both were accepted (which is unlikely) I would just inform them of the one I wanted to go with..

And if this is not true, why would he tell me that?

@Tara S., thank you so much....So Im still trying to decide how close reserve price is to market value. If you had to guess what would you say the market price for your property would have been?

Also, did you do a title search before you bid on the property?

And I know you generally buy these properties blindly without seeing the inside... How did you like the condition of the property once you bought it?

@Wayne Brooks, is this a free site or do you have to pay?