All Forum Posts by: Henry Cobb

About to put a finished flip on the market in about 2 weeks. This is a nice 70s neighborhood without an HOA. Not sure whats going on next door, but they have had a fire & water restoration company come in recently and have put this outside next to their house. Its been out there for weeks and is clearly visible when you are walking up to the front door of our house next door.

I talked to the neighbor across the street today and he wants me to buy this house next.  I'm pretty sure they put a toilet out there today after I took this picture.  Do you think they want to get rid of this?  I'm happy to put it in our dumpster if so.  How should I handle this?

I am flipping a 3500 sq ft house in a good neighborhood.  It will have hardwoods in the common areas; LR, DR, kitchen, office and carpet in the 4 bedrooms.  It has an other 24x14 bonus room that is a gameroom or playroom.  Would you do carpet or hardwood?  I want the house to appeal to families, I think that carpet would be appeal better for younger kids and hardwood for older.  Any thoughts?

Neil, it is a courthouse auction.  Auction.com is only advertising it and their listing says to go to the auction Tue.  to bid on it.

I am observing my first foreclosure auction on Tuesday.  No bidding for me!  I also have several questions on the liens of a property listed for auction by the mortgage company.  

Both zillow and auction.com list the starting bid as $330,000.  Could this be accurate considering "zestimates" and the like?  

The trustee sale document lists the Mortgagee as the one foreclosing the property. Original loan amout of $323,200. The mortgage was recorded on 8/26/2003. The county records show a mechanics lien filed on 9/6/2003 for $63,000 for the pool. There was also a lien filled from the HOA on 7/14/2013 for $1,600.

My questions are can one ask the Trustee before the auction if this starting bid is correct? Assuming this mortgage is almost 13 years old, could the $330,000 amount satisfy the remaining mortgage amount, the pool lien and the HOA lien? If not, what happens with the 2 liens when someone buys this property for the mortgage foreclosure. Meaning who is liable and how are they handled then. This is in Texas. Thank you in advance!