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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] This one was easy... Posted by Ward-CA- on October 17, 2003 at 3:07 PM In Reply to: Here's one for you.... posted by James-CA on October 17, 2003 at 9:17 AM : Hi Ward, : Yet another question. Well this is more along the lines of advice. I found a property that is a fairly nice condo that would turn a very nice profit. So what's the problem? The owner is nowhere to be found. I mean no one knows where she is. Phone has been disconnected and as far as I can tell although I am not 100% sure, the unit is empty. The parking spaces have not been used in at least a month or two. The loan is in someone else's name (an owner 3 times removed) that is being foreclosed on. Trustee's Sale is fast approaching. : It appears to me that the owner (new) has forfeited her property. Is it possible to go to the Trustee/Bene and ask them to deed the property to me and for me to assume the loan? Is this a good idea? I would rather it not go to Sale as I do not want to pay full price when I can pay for a few months and then sell (besides the fact that there could be outside bidders raising the price). : What do you think? =?=?=?=?=?=?=?=?=?=?= James, First of all, neither the Trustee nor the Beneficiary of the loan has the power to deed the title to the property to anyone without acquiring it themselves via the Trustee's Sale or via a deed- in-lieu of foreclosure. Try to find the owner of record and get them to deed the property to you. For a great, skip tracing site click on the link below. We use it all the time and so do most of our graduates. If you don't qualify then call Eric in our office and he'll skip trace for you for a modest fee. If you can't find the current owner then try the legalized squatting route of obtaining title via adverse possession. Hope this helps. Accurint - Accurate Intelligence Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, : : Yet another question. Well this is more along the lines of advice. I found a property that is a fairly nice condo that would turn a very nice profit. So what's the problem? The owner is nowhere to be found. I mean no one knows where she is. Phone has been disconnected and as far as I can tell although I am not 100% sure, the unit is empty. The parking spaces have not been used in at least a month or two. The loan is in someone else's name (an owner 3 times removed) that is being foreclosed on. Trustee's Sale is fast approaching. : : It appears to me that the owner (new) has forfeited her property. Is it possible to go to the Trustee/Bene and ask them to deed the property to me and for me to assume the loan? Is this a good idea? I would rather it not go to Sale as I do not want to pay full price when I can pay for a few months and then sell (besides the fact that there could be outside bidders raising the price). : : What do you think? : =?=?=?=?=?=?=?=?=?=?= : James, : First of all, neither the Trustee nor the Beneficiary of the loan has the power to deed the title to the property to anyone without acquiring it themselves via the Trustee's Sale or via a deed- in-lieu of foreclosure. : Try to find the owner of record and get them to deed the property to you. For a great, skip tracing site click on the link below. We use it all the time and so do most of our graduates. If you don't qualify then call Eric in our office and he'll skip trace for you for a modest fee. : If you can't find the current owner then try the legalized squatting route of obtaining title via adverse possession. : 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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