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Re: Foreclosure Auction - When do I OWN the property? receipt or deed?

Posted by Rick, the Probate Guy on December 12, 2009 at 1:47 PM

In Reply to: Foreclosure Auction - When do I OWN the property? receipt or deed? posted by Jeff Osborne on December 12, 2009 at 9:24 AM

So, what training did you receive that prepared you to plunge forward?

I don't think that there's anythinh that anyone here can say or do to improve your situation. The damage is done and you'll be the one paying for it. I would hope that you were not expecting the former owner or lender to pony up anything for the damages, were you?

Your first and immediate order of business is to stop the hemorraging by securing ythe property from further damage. Despite the fact that you don't have title via a recorded deed (yet) if you have possession, there should be nothing stoping your from securing the property from vandals. This could include fencing, alarms, etc.

Also, after sizing up which neighbors are of the solid-citizen type from the ones that may be your culprits, you night want to get their help.

So, sadly, you have probably paid for your education at least one more time than you needed to. It's just part of the cost of doing business that the pro's have learned to shrug off and move along to the next deal.

Hope your next one goes better.

Did I mention the part about getting more training?


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