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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: It's handy to know the state you're in... Posted by Kim on August 07, 2003 at 7:39 AM In Reply to: It's handy to know the state you're in... posted by Ward-CA- on August 07, 2003 at 7:11 AM Thanks Ward, I am in NY. Your responses are helpful. I bought a basic book a while back when I was interested in purchasing a foreclosure as my primary home. I gave up quickly since the stress of buying your 1st house is enough in itself. I need to find that book, dust it off, and perhaps attend a seminar. I am now thinking of a second home or an investment property. There is a lot to learn but boards like these are so helpful. Thanks again. : 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: Post a Followup: Name : E-Mail : Subject : Comments: : Thanks Ward, : I am in NY. Your responses are helpful. I bought a basic book a while back when I was interested in purchasing a foreclosure as my primary home. I gave up quickly since the stress of buying your 1st house is enough in itself. I need to find that book, dust it off, and perhaps attend a seminar. I am now thinking of a second home or an investment property. There is a lot to learn but boards like these are so helpful. Thanks again. : : 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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