All Forum Posts by: Jenna Walker

I found the good empty lot in decent price. Manufactured home used to be there and now its gone so water, sewer system is ready. Could you put manufactured duplex home in the lot? Or does it require other permission? Lot is little over 2acre so good enough size.

Thanks in advance!

Is there any way I can look up auctioned homes in the past for reference? Wonder auction.com have search function of past foreclosed home so I can check out initial bidding price and winning bid and such.

@Tim Johnson yes it sounds like relatively easy job with guaranteed being paid on time so even better! So you mean those necessary repairs on foreclosed home can be made at any point.

You think its possible that bank made insurance claim and repair through insurance company since there was fire damage? I am just trying to figure out banks stance, either their interest is putting money into it to put it in mls or just in the process of insurance claim and getting it fixed . Property is a small townhome, nothing luxurious.

@Tim Johnson Tim, I wonder though, why couldnt they wait until bidding period ends then rehab to resale. Its their property since no one bid on it and went back to the bank BUT its still within upset bidding period. Could there be certain regulation with hazardous they had to fix it up either way? If that is the scenario, I may put my bid in.........

@Tim Johnson oh wow!!! That is it. The house had small fire damage and probably that was reason why they had to fix up for whatever hazardous reason. So amazing I get these insights from you all! Appreciate your comments!

@Bill Pate sounds like super deal! I am hopping to get some good deals like that in the near future.

@Scott Mac Hi Scott! Thanks for the reply! All the flooring was stripped and was ready to be placed with new flooring and paint. As per the conversation with the worker, house had small fire damage from the kitchen but didnt look bad at all ( its townhome) . All the flooring material was ready to be put in.

If I upset bid on this property, would bank even consider letting it go and unfinish constructing on the property? or they would just keep bid back since they are already into the rehab. I know no one has answers to this questions but I guess I at least want to hear everyone’s opinion on this! It was total coincident to see all this was happening but great learning!

Found the foreclosed property. Already auctioned off and no one bided so its within upset bidding process. I am serious putting bidding on it and today I drove by the property witness ppl working on the property. Had conversation with painter guy, they are doing full renovation. Does bank really do full renovation on home and put it on market??!!!! Never knew that would be an option. If that is the case, bank wont let go of property on deal I am thinking of bidding. Insights please!!!!

@Jonathan Greene makes total sense Jonathan! Thanks for the advice. Really appreciate it 👍

@Jonathan Greene awesome. Took all your advice in! House is only 4 years old, in nice neighborhood. in perfect scenario, if the only lien to the house is the mortgage, I would like to get the house around 90k ( just my hope) at an auction then put minimum money into clean up then rent it out, refinance BRRRR....... Just not sure bank would let go of newer houses at an auction for lower than owed amount or they rather do REO sale later on to get more money out of it. If they likely would buy back at an auction anyways I just feel like I am just wasting my time title searching, getting my funds ready you know!? But If they sometimes start bid somewhat lower amount than they owed and actually happens to let go at an auction, its definitely worth try I think!