All Forum Posts by: Rick L.

My wax bid was $15,100...plus the $2500 auction buyer's premium, plus a $1300 sewer lien, plus the cost of the eviction of the current occupant. The auction closed with the high bid of $19,900.

I did find the property listed on BOA Real Estate Center website for $19,000. However, any contact information has Auction.com listed.

Thanks for the answers guys! I did end up paying for the title search. However, I ended up getting outbid on the single family home, but surprisingly (sarcasm) the property is being re-auctioned starting Monday.

I'm kinda over the Auction.com thing, as I've ready that some fairly shady stuff has occurred during some of their auctions. I'm wanting to making an offer with the lender(Bank of America) that is foreclosing on the property and negotiate directly with them. Does anyone have any advice on how to get in contact with some at BOA that can facilitate this process? From what I've read this is pretty much impossible with such a large bank.

Link doesn't work.

Thanks guys. I've been approved for 80% LTV by the underwriter and I'm hoping to have everything wrapped up within the next week or so. I'm excited to use this valuable tool to acquire properties.

This may be an stupid question, but does things like maxing out or carrying a large balance on the HELOC affect your credit score? I've read that maxing out your credit card or carrying a large balance can negatively impact your credit score. I would assume

Thanks for the reply Wayne. I briefly spoke with the attorney. He recommended I do the title search. He also said that the title will state who the foreclosing lender is and that I could even try and negotiate an offer directly with them instead of bidding on auction.com Has anyone done this?

I've been quoted about $125 for a title search from a title company. Is this something you guys pay for on almost every property your seriously considering? I can see where this may become expensive.

Thanks guys, it's a quit claim deed transfer. I was planning on having a title company perform a title search and then have the lawyer clear anything up and deal with owner occupant as well.

I'm interesting in bidding on a foreclosed property with auction.com. What I need to prepare for as far the unclear title?

From what I can read on the internet I want to obtain an owner's title insurance policy. I'm planning on working with a real estate attorney.

I'm not aware of any meetups, but I would be interested!

Congrats Matt! I look forward to following your progress! I have two offers out right now on HUD proeperties. Fingers are crossed!