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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Protocol & board-up activity Posted by Ward-CA- on January 27, 2002 at 7:07 AM In Reply to: Protocol posted by Alfred, Trainee on January 26, 2002 at 6:27 PM : Hi Ward... two questions. : 1) When handling private lien holders, as opposed to institutions, should I pay for the notary and FED EX costs that they incur in getting the docs prepared to send to me? It seems that I should. : Re: this 55K junior lien deal that we are working on, the bene finally got back to me today and I made my spiel. He will sleep on it and call me tomorrow with his answer. : 2) One question, the house is apparently vacant and sitting. Even if we own the 2nd we don't have legal right to enter, etc. : There could be vandalism, squatters, or who knows what if nobody is there overseeing things. How are we going to protect it and keep it secure over the next 4 months during our own foreclosure process? Any ideas? : Thanks in advance. Best, Alfred =•=•=•=•=•=•=•=•=•=•= Alfred, 1). Yes, after telling the seller of the note that I will cover their incidental expenses, I will breakout and include an additional $25 for “transactonal expenses” when I pay them. 2). Yes, like all the institutional lenders have done and continue to do, you can enter property that secures your lien, before or during the foreclosure process and board up the premises in a legal effort to “prevent waste and vandalism”. It will cost you about $1,000 to have a local company do a board-up. Call any local insurance company for a recommendation of board-up contractors. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward... two questions. : : 1) When handling private lien holders, as opposed to institutions, should I pay for the notary and FED EX costs that they incur in getting the docs prepared to send to me? It seems that I should. : : Re: this 55K junior lien deal that we are working on, the bene finally got back to me today and I made my spiel. He will sleep on it and call me tomorrow with his answer. : : 2) One question, the house is apparently vacant and sitting. Even if we own the 2nd we don't have legal right to enter, etc. : : There could be vandalism, squatters, or who knows what if nobody is there overseeing things. How are we going to protect it and keep it secure over the next 4 months during our own foreclosure process? Any ideas? : : Thanks in advance. Best, Alfred : =•=•=•=•=•=•=•=•=•=•= : Alfred, : 1). Yes, after telling the seller of the note that I will cover their incidental expenses, I will breakout and include an additional $25 for “transactonal expenses” when I pay them. : : 2). Yes, like all the institutional lenders have done and continue to do, you can enter property that secures your lien, before or during the foreclosure process and board up the premises in a legal effort to “prevent waste and vandalism”. It will cost you about $1,000 to have a local company do a board-up. Call any local insurance company for a recommendation of board-up contractors. : : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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