All Forum Posts by: Chuleung Leo Joo

Updates, if anyone is still seeing it.
After multiple efforts, there was no other way to buy it, unless going through the auction.
I realized the lender is legally not allowed give it to any specific buyer even if it is under loan default situation but has to go through foreclosure process, I assume this depends on AHJ.
Simply, I was going to move out when a new owner claims ownership after winning the auction, then my boss told me to go to auction and buy it in the morning of auction day by saying he will provide immediate financing.  I went the auction and won it at 25% lower than market price.  It was a big surprise to my wife when I told her now we are the new owner.

have you got any response, Daniel?
how did you do it?

Question,
Recently purchased empty land, survey indicates neighbor property fence encroaches over few inches to 8+ feet in major area, and another approx. 1,800 sf. parcel off from out empty land.  what would be the best way to approach for them to correct the fence location?  is there any professional who resolves this issue.  we are about to initiate a land development shortly and this needs to be resolved.

Thank you, in advance.

Ron, 

Then how would you approach to this case, instead of Just wishing a luck at the auction ?

Just curious, are there professionals something like "foreclosure purchasing agency"?
I wonder if I can effectively make an effort purchasing this unit when auction is on.

Thank you for the advice, all.

It sounds to me, without current owner's appearance, foreclosure process by lender seems even not possible until they have owner title obtained by law suit.  My dilemma is I need to understand how soon I will be forced moving out, I guess nobody has this answer.  At the same time, this apartment unit as a foreclosure price with its potential is just too good to give up.

Thank you again,

Thank you, John.
Can I ask one more question,
Surprisingly, lender's attorney gave me a contact for pay-off application as a third party that I understood as a purchasing opportunity, but it turned out not possible again.  Foreclosure attorney informed me the process is currently delayed due to the missing property owner (or borrower).  I am wondering if this delay by missing borrower issue will be resolved by the law and how?  since I need to plan moving out, and want to be prepared with enough time. 
Thank you again, 

I am currently live in an apartment that was leased by the condo board.  Owner has been missing last decade without paying mortgage neither maintenance that legally supports condo board to leasing the space to a tenant.  Recently, many legal paper works delivered to my apartment that was intended addressed to the owner, informing foreclosure process due to unpaid mortgage.

I want to buy the apartment before it goes out to foreclosure process, and I've called the the lender side lawyer, but it wasn't successful obtaining proper contact to the lender who I can initiate deal discussion.

Could I ask advice how I can effectively approach to the lender on this purchasing deal, when owner is not available.

Thank you, in advance.