forclosure information?

Blackvelvet

There is a house in town that we know is in forclosure the guy stopped paying before he went to jail and since he has no money his girlfriend just lived in the house and never paid the bills.  I like the location and know I can do the fixing up as she took the tub when she left as well as fixtures.

What I want to know is how I can find out when it will be for sale and how much as it seems our local MLS doens't have forclosures how do you find the info. aside from driving by everyday.

Also how do they price them when they are trashed I'm assuming it lowes the price hopefully a bit?

Justinlove

Well, it all depends.  Some foreclosures are literally sold on the courthouse steps.  Others are retained by the banks who will ultimately list them (and MLS will list those).  Pricing completely depends on the owning entity. 

MaineWifey

You can find out at the County records which bank holds the note. 

You will want to check the news paper because they will adverstise when the home is sold if it gets sold at auction. 

A lot of homes are being held on to by banks, so its anyone's guess as to when and if it will be listed.

 The asking price will be determined by appraisers and possibly an agent appointed by the bank.  The asking price should take into consideration work that needs to be completed on the home. 

Juris11

If you know the names of the owners now, you can check the court docket to see information about the foreclosure as well. Most places have online dockets now. This will also be helpful because they will have to list every creditor who may have an interest in the property.