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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Here's an example... Posted by Ward-CA- on November 16, 2003 at 5:01 PM In Reply to: I never to talk with the defaulting property owner ... posted by Dave on November 16, 2003 at 8:09 AM : Ward, : You say: : #2. I never to talk with the defaulting property owner prior to the trustee?s sale if I intend to bid at the sale. That way I can?t be charged with knowing something that?s not recorded in the public record. Has saved my hide a few times. : Why is this? What could possibly happen? What charge? : Thanks, : Dave =?=?=?=?=?=?=?=?=?=?= Here's an example: I once bought a foreclosure where, unbeknownst to me, there was a full blown lawsuit over the validity of the foreclosing trust deed. It had dealt with pre-trial motions for 18 months at the point of the foreclosure sale and wouldn't be tried in a court of law for about 9 months afterwards. However, due to the oversight of the ex-owner's attorney, there was no recorded Notice of Lis Pendens concerning the matter prior to the foreclosure auction. Therefore, my claim to ownership of the property didn't depend on the outcome of the lawsuit since I was only held to what I actually knew and what was in the public record at the moment of the trustee's sale. Since I never spoke with the ex-owner before the sale I was oblivious to knowledge of the lawsuit and could act in confidence to just what the public record disclosed. Had I visited with the owner prior to the sale he would have told me all about his lawsuit...just like he did when I visited with him after the trustee's sale took place. I was free to evict the owner and proceed with the resale of the property, regardless of the outcome of his upcoming trial. He lost the lawsuit. But if he had won all he would have been entitled to would have been money damages for the loss of his house. Hope this helps. Follow Ups: Thanks! (nt) Dave 11:20 AM, 11/17/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : You say: : : #2. I never to talk with the defaulting property owner prior to the trustee?s sale if I intend to bid at the sale. That way I can?t be charged with knowing something that?s not recorded in the public record. Has saved my hide a few times. : : Why is this? What could possibly happen? What charge? : : Thanks, : : Dave : =?=?=?=?=?=?=?=?=?=?= : Here's an example: : I once bought a foreclosure where, unbeknownst to me, there was a full blown lawsuit over the validity of the foreclosing trust deed. It had dealt with pre-trial motions for 18 months at the point of the foreclosure sale and wouldn't be tried in a court of law for about 9 months afterwards. : However, due to the oversight of the ex-owner's attorney, there was no recorded Notice of Lis Pendens concerning the matter prior to the foreclosure auction. : Therefore, my claim to ownership of the property didn't depend on the outcome of the lawsuit since I was only held to what I actually knew and what was in the public record at the moment of the trustee's sale. : Since I never spoke with the ex-owner before the sale I was oblivious to knowledge of the lawsuit and could act in confidence to just what the public record disclosed. : Had I visited with the owner prior to the sale he would have told me all about his lawsuit...just like he did when I visited with him after the trustee's sale took place. : I was free to evict the owner and proceed with the resale of the property, regardless of the outcome of his upcoming trial. He lost the lawsuit. But if he had won all he would have been entitled to would have been money damages for the loss of his house. : 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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