All Forum Posts by: Rich Baer

@Ivan Vargas

In Maryland, personal service on a person in foreclosure is not required. You need to attempt to serve them but if that fails alternative service is allowed (mailing, posting, etc.). So many foreclosure houses are vacant can you imagine if you had to track down and personally serve someone before the cloud on a title was removed. Its the other possible liens on a property that have to be checked and cleared.

@Doug Seaney

If you purchased title insurance you will ultimately be fine. The title company and title searcher are on the hook. You need to hire a real estate Attorney to handle the matter and advise you. A major issue becomes your losses from this point on and whether you should invest any money going forward knowing there are title problems. It is all fixable but it will take time and money.

Good news update:

I finally convinced the new owner to return to the property this morning. He and his crew got back in at daybreak. No cats in the house (Thank goodness). The former owner took the cats with him . Also, the whole bag of food left outside for the feral cats had been eaten over night. Just another day in the Big City.

He did at least leave food and water for them. I am trying to get him back there tomorrow.

A friend of mine in Baltimore just gained entry to a house he got at tax sale. Not a very good house or a very good deal but he thinks he can rent it. It is actually in the war zone near where the riots occurred. I wouldn't want it if you gave it free to me.

Anyway, he got title to the property after a lengthy appeal by the deadbeat owner. He gained access yesterday and of course the house is a wreck. He called me to say there were 2 kittens in the house that the owner had apparently abandoned. He knows I work with various animal rescue groups. He said the power was off and with the cold weather he asked me to come get them.

I went there today at sunset (scary) after he gave me the keys. Unbelievably, the former owner got back in and changed the locks. I feel so bad that the cats still may be in the house. Hopefully he took them but I doubt it. At least I dumped a bag of cat food on the porch for the feral cats. 3 cats immediately ran up to eat. Unfortunately my friend can't get back there to change the locks (again) and empty the house until Saturday. If they are still there I will be called. Say a little prayer for the little guys.

If anyone in the area needs an animal rescue or placement feel free to call me or contact me.

@Pauline Jones

It actually could be. You should easily be able to find a reverse mortgage person in your area to discuss it with. If accepted into the program, you no longer make monthly payments. With your numbers there are different reverse mortgage programs that may work. I just don't know how being behind in your payments would affect things. The expert would know. Good luck.

@Jonathan Beemer

When you bid on an online auction, if you are the winning bidder (matched the reserve price) that is your purchase price plus costs. What the prior owner owed the Bank is none of your concern. It is all straight forward. Always ask the Auctioneer any questions in advance of bidding if something concerns you or have them email you a sample contract.

@Keri Parker

I can't help with the specifics for your area. However, I would go back to them and ask what they are willing to pay. Take that information and do some research. Call some other billboard companies and commercial realtors. You are in the driver seat in this situation. You will need to have an Attorney review any contract. Reel in the fish.

@Dennis Hollier

Your property taxes will absolutely jump to a number based on the purchase price. Baltimore County taxes are generally $1000 in taxes per hundred thousand in assessment. Baltimore City is generally $2000 per hundred thousand. For example a $500,000 assessment will land you roughly a $10,000 per year tax bill. Assessments can be appealed and the people I hire have successfully had bills reduced. Just don't expect anything dramatic. It is easier to have the assessment lowered when you pay a lower purchase price than the neighborhood average. When you pay more your chance of lowering your tax bill is reduced. I hope that helps.

@Ned Carey

Emailed you the list. Please confirm receipt. Make an offer.