What my wife and I are trying to get into
#1
What my wife and I are trying to get into
I'm posting this to 1. Share 2. ask for help on how to get it.
First, Pics:
It has 3 fireplaces
Kitchen needs some work
Stairway
Built in Wall Cabinet
Now, from what I have found out so far is that it was sold at a Sheriffs Auction to a bank about 1-2 months ago for $224,000. It is abandoned, the last appraised value was at $236,000. I can't find out WHAT bank bought it yet. How or can I find out who holds the deed to this and how would you go about buying from the back if it isn't listed? Would love to buy before they go an rezone it and tear the poor old thing down. It was built in 1901, has 1 acre with a ravine running through the back of it.
Any help would be appreciated, thanks
First, Pics:
It has 3 fireplaces
Kitchen needs some work
Stairway
Built in Wall Cabinet
Now, from what I have found out so far is that it was sold at a Sheriffs Auction to a bank about 1-2 months ago for $224,000. It is abandoned, the last appraised value was at $236,000. I can't find out WHAT bank bought it yet. How or can I find out who holds the deed to this and how would you go about buying from the back if it isn't listed? Would love to buy before they go an rezone it and tear the poor old thing down. It was built in 1901, has 1 acre with a ravine running through the back of it.
Any help would be appreciated, thanks
#2
RE: What my wife and I are trying to get into
Take the address down to the county recorders office and have them pull the records on it. The owner of record should be listed including any liens. My guess would be that the bank that bought it is the one that had the lien on it from the previous owner. If it wasn't going to bring enough at auction to get them as close to whole as they wanted they could have bought it back themselves. Can't imagine that another bank would step and by it. Most have bloated REO departments as it is. If you can find the bank they very well make you a very favorable loan to get the asset/loan back in the performing category. Just approach the bank and ask what their plans for the property are. I assure you they don't want to own it unless they planned on putting a branch there.
#4
RE: What my wife and I are trying to get into
Hard to tell from the pictures but probably worth having a competent home inspection company do an inspection if you get serious. Probably cost 2-300.00 dollars. Old homes can have lots of issues. personally I like them better than new houses. You get some really good craftsmanship and some detailing you just can't hardly buy these days. Downside is old MEP systems, substandard insulation, windows, etc.
#7
RE: What my wife and I are trying to get into
I realize all of that. My wife and I have been called "old souls". We like the modern amenities but there is just something about the old stuff. I would much rather own and live in that house and fix it up back to it's original beauty than keep working on the 6 yr old house that we have. I love our current house, just no history. And I'm sick of watching them tear down everything that is old so that can put up another damned store or gas station. Sorry, I know that you build stuff and probably in place of things. Not a slam on you personally, just don't like that nobody seems to have any respect or appreciation for the older stuff, our history anymore. I think that you would be hard pressed to find a house built today that was built with the love and dedication that was put into them back then.
#8
RE: What my wife and I are trying to get into
Like I said I prefer the old stuff myself ( except for women ) Cars, houses, guns, watches, you name it I like it better old. We actually haven't torn anything down to build one of our projects. We did take a building at the corner of 6th and Hope in downtown LA add a top floor and turn it into a condo development. It was an ugly POS building though. Good luck on it and let me know if I can help.
#9
RE: What my wife and I are trying to get into