All Forum Posts by: Jack Forester

You may want to check out 1115 Cobb St (single-family home converted into a triplex) . It currently has 2 units rented with one unit available. The available one has a small "foyer" with a kitchen, bath,  bedroom and an additional room, which with a closet could be a bedroom. I think the two rented units are a 1 bedroom efficiency for $495 and a much bigger 2 bedroom renting for $650.  Search for it on Trulia. Listed for $125k.

We looked at it, but it needed a bit more care than we could do remotely.  

Also, if you are planning targeting the college housing niche, know that Augusta has a zoning ordinance with a maximum of 3 unrelated adults living in a single-family home. 

Welcome to BP! 

Gotcha. Fully understand the expenses . I was referring to HOA liens against the property. Basically, you are saying that if it's on Auction.com all liens have been wiped out. So why do they post a title doc showing the liens?

So, other than trying to figure out repairs needed, which I probably won't be able to do, except from the exterior (roof, siding, windows), I don't need to worry about any liens (tax, HOA, or otherwise), correct?

So you don't have to worry about paying liens? Is it always the primary lender which has foreclosed (which clears the secondary loan, right?) 

This title shows a primary, a secondary, and an additional lien, right? 

Okay, so I found a property listed as "Bank Owned".  Trulia says it's listed by the bank, but Auction.com is auctioning it.  I'm trying to determine what might be left to pay after the auction.  It doesn't specify which bank is auctioning it.  Since it's listed by bank, does that mean it's actually clear of the liens?

Trulia info:

Auction.com Title Information:

Search Effective Date: December 30, 2015

This informational report has been prepared for the exclusive use of this client. This property report is not intended and should not be considered as any form of title guaranty or title insurance. Maximum liability for errors and omissions shall not exceed the fee paid for this property report.

Vesting Information:

Document type: Warranty Deed

Execution Date: August 28, 2007

Recording Date: August 31, 2007

Deed Book: 1140

Page: 963

Property Tax Information:

Parcel Identification Number: 123456789

Tax Year: 2015

Tax Amount: $1,658.98

Tax Status: Paid

Security Instrument:

Lender: MERS\Birmingham Bancorp Mortgage Corporation

Execution Date: January 23, 2009

Recording Date: February 09, 2009

Deed Book: 1205

Page: 1843

Loan amount: $129,089.00

Last transferred to: Ocwen Loan Servicing, recorded August 25, 2015, as recorded in Deed Book 1498, Page 1717, aforesaid records.

Lender: Secretary of Housing and Urban Development

Execution Date: November 12, 2010

Recording Date: January 04, 2011

Deed Book: 1287

Page: 2162

Loan amount: $34,224.18

Judgments and Liens:

Holder: Capital One Bank

Dated: February 18, 2008

Lien Book: 28

Page: 3224

Amount of lien: $3,767.00+

Bankruptcy Information:

No open bankruptcies found.

Miscellaneous Information:

None found of record.

Legal Description:

Yada,yada,yada

Okay, so if the numbers work after including filling the pool, then it's a go. Right?

Raised that post. A few thousand dollars seems reasonable 

How much to fill in a pool? 

😉

She finally responded and we are all set. To be fair, she was traveling. 

@Malik Welch , any idea how much a pool drives up your insurance in Augusta?