Foreclosures Help Information

Posts Tagged ‘properties,’

Foreclosed Properties In Georgia

Question: Do I still pay rent on a bank owned property?

I live in Georgia and the apartment complex I live in has foreclosed and is presently owned by the bank. Am I still required to pay rent?

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Answer: Yes, the same as before. The government requires the bank to have a property manager and continue renting until the complex is sold.

There is no force to leave in 90 days, that pertains to houses, not apartments. Your lease is in effect and this process should be transparent to you.

Tip of the Week - Bank-Owned Properties

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Bank Owned Foreclosed

Question: Where Can I Find Listings of Bank Owned and Foreclosed Homes?

I need information on free websites that have legit listings.
Also,on one website which isn't free,I have seen homes listed for $2,500 sale price and $500 down.Is this accurate?I'm looking for Spartanburg,S.C. listings.

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Answer: Call a Realtor, find a good one, don't go in for these online "Lists" there is no official list, but every time there is a foreclosure the law states that notice must be posted on the premise. This notice will also state how much is owed on the mortgage. There is no substitute for actually being there. Learn what the notice looks like, look for abandoned, unkept looking houses. Don't be afraid to talk to the neighbors, they know more about it than anyone. many times when a Realtor lists these properties, they will keep it as a pocket listing for their investors to take a crack at it, sometimes there will be no sign. Work with a Realtor to look at the comps in the area, so when the deal comes, you will be able to make a quick decision.

Vista, CA bank-owned house

Foreclosed Properties In Michigan

Question: Property line problems--help please?

We bought and moved into our property 3 years ago. Recently, one of the foreclosed homes in the area sold and the new owners had the 30 acre property surveyed. The surveyors cut an angle across our back yard claiming it belonged to the 30 acre parcel that was bought. Our property is a perfect rectangle in measurements, so we know that something is wrong. The area of our yard has been maintained not only from our 3 years of living here, but since the home was built in 1979. We disagree with the new owners survey and have requested they redo their survey and include checking the line on our property to ensure the property lines do not overlap from a prior survey mistake. If the properties overlap, who has the right to keep the property?
By the way, we live in Michigan.

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Answer: A; you presumably have title insurance. Title insurance covers two
things; 1. that you own a prop at this address. 2. that your prop is as
the deed says it is. So far wide, deep, etc.

the fact that the new neighbor had a survey state one thing
that differs from yours does NOT automatically matter--nor is it
automatically correct.

I would without a doubt, hire a surveyor to examine WITH A FINE
TOOTH COMB, your property perimeter. Down to the inch.

If your survey finds that you are right and the neighbor is wrong
you would want to show him your results. If he ignores it, you
need to bring in the law. Range wars were created this way.

if his survey turns out to be accurate and yours wrong, you need
to sue if you were misled....[sue the seller]...or if it is not important, have your deed changed to state the "proper" land perimeters and
be done with it.

Courts decide who is in the right and who is not but they do not
decide HOW to act when one of you two is about to lose
some property.

YOURs has as much chance of being wrong as his does.

BE prepared.

thanks for asking

Bank Owned Properties Bay City Michigan