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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] It's handy to know the state you're in... Posted by Ward-CA- on August 07, 2003 at 7:11 AM In Reply to: Question before auction posted by Kim on August 06, 2003 at 7:19 PM : Just getting my feet wet.... : What are the "must-dos" before bidding on a property at an auction? For example, do I need to do a title search beforehand? : Also, is it acceptable business conduct to call the attorney office the day before the auction to confirm that it is still taking place? : Once an auction is scheduled does the properly legally have to be auctioned, or can you contact the law firm or bank with offers? : Sorry for my inexperience, any help would be appreciated. =-=-=-=-=-=-=-=- Kim, There are 54 foreclosure jusisdictions in the United States, Guam, Virgin Islands, Puerto Rico, and Washington, D.C. and each one is different. So which one do you hail from? Given I don't know the state you're in, I'm limited in being able to answer your questions as precisely as I like. But here's what I can tell you. Yes, it is acceptable and proper to call the attorney conducting the foreclosure and confirm the sale is taking place and when and where. The property can't change hands without the sale of title. So the beneficiary can't sell to you until they became the owner at the foreclosure auction by virtue of no one else bidding for the property at the sale. Otherwise you'd have to buy the property from the winning bidder. So if the lender got title at the foreclosure sale then you can approach them with an offer to purchase from them. Hope this helps. Follow Ups: Re: It's handy to know the state you're in... Kim 7:39 AM, 08/07/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Just getting my feet wet.... : : What are the "must-dos" before bidding on a property at an auction? For example, do I need to do a title search beforehand? : : Also, is it acceptable business conduct to call the attorney office the day before the auction to confirm that it is still taking place? : : Once an auction is scheduled does the properly legally have to be auctioned, or can you contact the law firm or bank with offers? : : Sorry for my inexperience, any help would be appreciated. : =-=-=-=-=-=-=-=- : Kim, : There are 54 foreclosure jusisdictions in the United States, Guam, Virgin Islands, Puerto Rico, and Washington, D.C. and each one is different. So which one do you hail from? : Given I don't know the state you're in, I'm limited in being able to answer your questions as precisely as I like. : But here's what I can tell you. : Yes, it is acceptable and proper to call the attorney conducting the foreclosure and confirm the sale is taking place and when and where. : The property can't change hands without the sale of title. So the beneficiary can't sell to you until they became the owner at the foreclosure auction by virtue of no one else bidding for the property at the sale. Otherwise you'd have to buy the property from the winning bidder. : So if the lender got title at the foreclosure sale then you can approach them with an offer to purchase from them. : 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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