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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Condo I want just got listed for trustee sale!!! Help! Posted by Thomas J Aloia Jr on March 01, 2002 at 2:47 PM Mr Ward, First thank you for your response to my question dated 12/14/01!!(Found Pre-forclosure property-no owner) A 3 bdrm/2.5 bath (vacant) condo I have been waiting for FINALLY!!! is listed for forclosure at a trustee sale here in va beach, virgina on March 12. The purchase price is 66.5K (Original price owner paid in 1994) This price is good against comprable sales recently (avg 69K-75K) I have done some research since december last year on the unit and found the condo has a small condo asso lien and second mortgage (25K) taken on it (but understand is resolved if I win bid) I have a couple of simple questions: 1. Since Im new at this, is financing impossible through a credit union since there is an issue with the escrow and title insurance? 2. Can deposits (If I win the bid) be refunded in lieu of full financing? ($5,000 required)Or worked out with the trustee at the time of bid win to write up as full auction price? 3. Can and does the morgage co holding the unit have to provide title info etc if asked by law or public info??? 4. What all could be possible for me to up against in va i.e., IRS etc.?? I know this last one is a general question, but things look good at this time on the unit and my research shows this unit definitley obtainable to reside in (besides other potential bidders). This navy man is retiring in the area soon and waited too too long tracking this condo!!! Thanks for the help in advance ward, god bless sir. Ciao, Tom!!! Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Mr Ward, : First thank you for your response to my question dated 12/14/01!!(Found Pre-forclosure property-no owner) : A 3 bdrm/2.5 bath (vacant) condo I have been waiting for FINALLY!!! is listed for forclosure at a trustee sale here in va beach, virgina on March 12. The purchase price is 66.5K (Original price owner paid in 1994) This price is good against comprable sales recently (avg 69K-75K) I have done some research since december last year on the unit and found the condo has a small condo asso lien and second mortgage (25K) taken on it (but understand is resolved if I win bid) : I have a couple of simple questions: : 1. Since Im new at this, is financing impossible through a credit union since there is an issue with the escrow and title insurance? : 2. Can deposits (If I win the bid) be refunded in lieu of full financing? ($5,000 required)Or worked out with the trustee at the time of bid win to write up as full auction price? : 3. Can and does the morgage co holding the unit have to provide title info etc if asked by law or public info??? : 4. What all could be possible for me to up against in va i.e., IRS etc.?? : I know this last one is a general question, but things look good at this time on the unit and my research shows this unit definitley obtainable to reside in (besides other potential bidders). : This navy man is retiring in the area soon and waited too too long tracking this condo!!! : Thanks for the help in advance ward, god bless sir. : Ciao, : Tom!!! 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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