All Forum Posts by: Brandon Lamb

Here is Brandon's letter...

Hello,

My name is Brandon; my wife and I are active real estate investors here in ­­­­­_______ County… and have a special love for properties needing some updates, which attracted us to yours! We love this community and love to make old properties new again, revitalizing this area and improving the neighborhoods where we live and work!

As you Know, Address has a few maintenance concerns, but that’s my specialty. I would love to put new electrical, windows, flooring in, plus the usual paint/etc.

As Real Estate Agents Name can testify to, I am a very active buyer here in town and always do what I say I’m going to do. I do not put properties under contract unless I am sure I can deliver.

Hopefully this attached offer sounds reasonable to you! I know I’m offering less than you were asking, but due to the repairs needed, these are the numbers that make it work for me.

Either way- I wish you the best of luck!

I look forward to working with you.

Sincerely,

@Jordan Northrup I have had the same issue, been trying to work with them to re-connect the account for 3 months now. But with the EOY right around the corner need something more reliable. 

Any updates on how Buildium is working out?

Hello,

Looking at tax lien sales in WY, and the county i'm looking in has a 4 year redemption period. The legal owner or mortgage company of the property sold at the sale is entitled to redeem a Certificate of Purchase at any time within four years from the date of the tax sale. To redeem the owner must pay the amount of the Certificate of Purchase, a penalty of 3%, any special assessments attached to the lien, plus interest on any principal amounts at 15% per annum. Upon payment the owner will receive a Certificate of Redemption, which released the lien created by the Certificate of Purchase.

Would like to know if you are the winning bidder of a lien with a mortgage filed, after the 4 year period what would happen to the mortgage. Could the lender foreclose on the property while I'm waiting the 4 years? 

Is this the case for lenders below?

Lenders' Options

If the property in question is security for a deed of trust or a mortgage, the lender most likely will not step aside and allow you to foreclose or receive a tax deed. Because the lender isn't a priority lienholder, it will lose its interest in the property if either of these things occur. Therefore, the lender must receive notice of the initial auction when the tax collector sells the certificate, as well as notice of the redemption period if the certificate is sold Typically, the lender will step in and outbid you for the certificate at the initial auction so it can protect its interests. If it doesn't do so, most states allow mortgage lenders to redeem the certificate themselves if the property owner does not do so. Either way, you'll get your money back plus interest – but you won't get the home.

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*This link comes directly from our calculators, based on information input by the member who posted.