All Forum Posts by: Vik Ari

thanks jon.

ok i did some searches at the county recorders office and a few things came up:

1. 2 tax sale lien certificates of $200 and $100. Do i have to pay these if i win the auction?
2. A FHA mortgage of $42K recorded way back in 1992. So how do i know what is the outstanding balance on the mortgage? Do I have to pay this if I win the auction?
3. I see the attorneys for condo assoc have recorded 3 condo association liens of 9K, 5K and 7K for the yrs 2006,2007 and 2008? however the judgement amount in the sheriff sale is 4.5K? Why is the amout different? Do I have to pay these if I win the auction?

thats all i could find? did i miss anything? how do i know what the priority of liens are? Also if i win the auction and pay the judgement amount, which liens above get wiped out and which I have to pay?

i would appreciate if auction sale gurus answer as i am a newbie and very new to this.

thank you all.

pls reply...thank you all

hi all,

i see a property which i like, coming up in a sheriff sale in a couple of weeks. the judgement is about 2K and the plaintiff is the condo association. recent comps are about 100K.

what are my next steps?

1. DO I do a title search? Can I inspect the property?
2. If I win the bid say for 2K and pay it, will I own the property free and clear? i hear that all liens are wiped out except federal liens? where do i find out about that?
3. since the judgement is for a condo assoc, is that considered 2nd lien? should i find out if there is a first lien from the lender?
4. Any other thing I should consider or research?

am a newbie appreciate all the advice i can get.

thanks
vik

hi all,

what is the best way to get information on all bank repos and short sales of condos and townhomes only, in a particular county?

-MLS?
-County records?
...

I dont want to search one by one and also dont have access to MLS? are online websites like realtytrac upto date or are there any other sources paid or unpaid...

appreciate the responses.

hi all,

any idea when tax lien sale auctions are held in NJ, basically in middlesex county...also is the a website that list all the sale dates for all states and counties?

thanks,

thanks for the response Eric and Mitch, I got the email id from a friend who lives there and is the neighbour of the person I am making contact with.

thanks again Mitch...i found out this property is still not listed for sale...will try and make contact and see how that goes..

Mitch, thanks a lot for replying....

1. Has the auction date been assigned? If so, when is it?

>>Not yet, this just was listed in the records as foreclosure lis pendens last week.

2. Is the home currently listed with a realtor?

>>Not that I know of, but I doubt it as I dont see it anywhere

3. Have you made contact with the homeowners?

>> I sent the owner an email with my standard foreclosure letter twice but no response. should i just call him? or visit him?

when i meet him, what do i do? jsut make an offer? are there other options which i can offer him, like lease with an option to buy...

other gurus, please jump in and offer advice also...

thanks!

ok this my first time so am a little nervous and need you experts help here.

Well, after looking through a lot of pre-foreclosures, I am down to one which I like. I did some research and the numbers look like as follows:

1. Unpaid sewer - $76.27 (i see someone has already bought the tax sale certificate las year)
2. Unpaid assesments - $3,300
3. Bank 1 owed - $132K (foreclosure lis pendens)
4. Bank 2 owed - $120K (foreclosure lis pendens)

the property can retail for $240K if it sells. how do i go about this?

I was thinking of offering $150K, but how does that wipe out the lis pendens(about $252K)? I assume I am trying to do a short sale? who do i speak to in this case, the owner or the banks?

what are the other options that I can offer the owner. gurus pls help..

thanks.

ok, i am new to the foreclosure arena and i saw a pre-foreclosure condo which i think i want to go for. what are my different options with regards to approaching the owner and making an offer?

1. short sale
...

i dont see this home listed, however it seems to me a lis pendens is recorded with the county.

thanks.