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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] buying bank note Posted by Ward-CA- on July 01 Posted by chalazion - NY on September 03, 2001 at 7:18 PM Re: buying bank note Posted by Ward-CA- on July 01, 2001 at 10:45 AM In Reply to: buying bank note posted by bryan on June 27, 2001 at 10:39 AM Hi Ward-CA: I have quite a similar situation/ question regarding buying a bank note. I have found a pre-foreclosure on a bank website. it is scheduled for auction next friday. I notice in the notes of the banks' website it states : "If you are interested in specific property on the auction calendar, please be aware that the bank cannot convey title prior to auction. If you wish to purchase the note only, please fax your offer (name of bank)." I called them and it is still available! questions: 1) you mention previously about "chill-bidding"? in this case the bank is soliciting offers, can I make an offer, that could be accepted? 2) do banks usually take less than judgement amount in states where deficiency judgements are allowed? what is the formulae for calculating an "offer"?, or an acceptable low-ball percetage obviously it seems as though they will take less for the default amount... 3) If the note is actually conveyed prior to the auction can the court or the homeowner's attorney (if they could afford one) throw out the sale, especially since the court (judicial foreclosure) is conducting the sale. 4) if purchased and title conveyed the only large concerns would be senior liens? What are senior liens that always take precedant? IRS liens? mechanics lien? property tax/water bills? Your response would be greatly appreciated, I've spent my entire labor day reviewing your board and learning a bunch. Thanks and keep up the good work Chalazion - NY P.S. While researching Real Estate Title Abstraction I came across the fact of "grantor and grantee indexes", do all registrar offices have them in some form or another and do these indexes indicate who? how many? and how much the lien amount are for?Thanks a bunch ward-ca Follow Ups: Re: buying bank note.... Ward-CA- 8:56 AM, 09/04/01 (1) Re: buying bank note.... chalazion_NY 7:11 AM, 09/05/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Re: buying bank note : Posted by Ward-CA- on July 01, 2001 at 10:45 AM : In Reply to: buying bank note posted by bryan on June 27, 2001 at 10:39 AM : : Hi Ward-CA: : I have quite a similar situation/ question regarding buying a bank note. : I have found a pre-foreclosure on a bank website. it is scheduled for auction next friday. I notice in the notes of the banks' website it states : : "If you are interested in specific property on the auction calendar, please be aware that the bank cannot convey title prior to auction. If you wish to purchase the note only, please fax your offer (name of bank)." : I called them and it is still available! : questions: : 1) you mention previously about "chill-bidding"? in this case the bank is soliciting offers, can I make an offer, that could be accepted? : 2) do banks usually take less than judgement amount in states where deficiency judgements are allowed? what is the formulae for calculating an "offer"?, or an acceptable low-ball percetage obviously it seems as though they will take less for the default amount... : 3) If the note is actually conveyed prior to the auction can the court or the homeowner's attorney (if they could afford one) throw out the sale, especially since the court (judicial foreclosure) is conducting the sale. : 4) if purchased and title conveyed the only large concerns would be senior liens? What are senior liens that always take precedant? IRS liens? mechanics lien? property tax/water bills? : : Your response would be greatly appreciated, I've spent my entire labor day reviewing your board and learning a bunch. Thanks and keep up the good work : Chalazion - NY : P.S. While researching Real Estate Title Abstraction I came across the fact of "grantor and grantee indexes", do all registrar offices have them in some form or another and do these indexes indicate who? how many? and how much the lien amount are for?Thanks a bunch ward-ca 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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