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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Check to see if unserved lien was recorded.. Posted by Ward-CA- on October 30, 2001 at 6:31 AM In Reply to: Courthouse Auction / Unserved Lien posted by m.a. on October 29, 2001 at 5:22 PM : We purchased, rehabbed and have a sales contract on a house we bought at the courthouse foreclosure auction. There is one problem. : There was an unserviceable (financed) water treatment system in the house and the company had not been served in the foreclosure. The couple who lost the house gave us the finance papers and basically had been making those particular payments throughout the process. Their current statement said balance due was @ $1300.00. : We now have a sales contract on the house and called the finance company to see if they would go 50% or something like that. However they said their figures were more like $4300.00 and would take $2000.00. We called the water treatment company and asked if they could just come and take away the system and release the lien, and they said its basically up to the finance company. : I know we are not in the best position in this situation, but does anyone have an idea for us. We could actually close in two days if it weren't for this lien. : Also can I demand to know how the finance company came up with their figures if the original owner thought they only owed about $1300.00. And could I just haul the system over to the company and give it to them.....any help is definately appreciated..thanks =•=•=•=•=•=•=•=•=•=•=•=•=• Perhaps you should check the public record and verify if the company’s lien was actually recorded prior to the foreclosure auction. If not they don’t have any liens rights afterward at all since it’s incumbent upon them to record their lien if they want notice of any impending foreclosure. Also you can ask for a detailed accounting from the company on how they arrived at the $4,300 figure they claim is outstanding. I don’t think returning the used equipment to the company would act to negate the lien, unless the company agreed to such action beforehand. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : We purchased, rehabbed and have a sales contract on a house we bought at the courthouse foreclosure auction. There is one problem. : : There was an unserviceable (financed) water treatment system in the house and the company had not been served in the foreclosure. The couple who lost the house gave us the finance papers and basically had been making those particular payments throughout the process. Their current statement said balance due was @ $1300.00. : : We now have a sales contract on the house and called the finance company to see if they would go 50% or something like that. However they said their figures were more like $4300.00 and would take $2000.00. We called the water treatment company and asked if they could just come and take away the system and release the lien, and they said its basically up to the finance company. : : I know we are not in the best position in this situation, but does anyone have an idea for us. We could actually close in two days if it weren't for this lien. : : Also can I demand to know how the finance company came up with their figures if the original owner thought they only owed about $1300.00. And could I just haul the system over to the company and give it to them.....any help is definately appreciated..thanks : =•=•=•=•=•=•=•=•=•=•=•=•=• : Perhaps you should check the public record and verify if the company’s lien was actually recorded prior to the foreclosure auction. If not they don’t have any liens rights afterward at all since it’s incumbent upon them to record their lien if they want notice of any impending foreclosure. : Also you can ask for a detailed accounting from the company on how they arrived at the $4,300 figure they claim is outstanding. : I don’t think returning the used equipment to the company would act to negate the lien, unless the company agreed to such action beforehand. 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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