David's new digs

[BigMac76]

Have a house warming party, or so thats what you tell everybody before they show up and BAM! start handing out tools, brooms, paint brushes or whatever else needs to get done.

[frankzlt1]

Originally Posted by DavidS

That would do the job. Nice! 58 hp. Wonder what headers will add? lol.

How much gp (goat power) would be needed?

Did you mean GTO goat power lol. Now theres a pig in goats clothing lol.

[DavidS]

Buying a foreclosure can be a roller coaster ride and this house is no exception. One day things are going great and the next is a disaster.

Two days ago - Well and septic pass inspection.....GREAT!

Today - There are over $26,000 worth of liens still on the property....FUCK!

[My84Z]

Sounds like the banks problem

[DavidS]

Originally Posted by My84Z

Sounds like the banks problem

Yep.

My attorney said it was an improperly performed foreclosure.

I don't know how long it will take to straighten out, but it could be months....or longer.

Fuck.

[Formula413]

Ouch, that sucks. Just when you were all psyched to move in and start making it yours.

[DavidS]

Originally Posted by Formula413

Ouch, that sucks. Just when you were all psyched to move in and start making it yours.

It really sucks.

At this point, I don't know if they bank has to redo the entire foreclosure process which could be a year or more.

Or, if they pay off the liens which might take a few months.

On one of the liens, I think the former owner didn't pay his property taxes for two years and it's a federal tax lien.

It's been a real roller-coaster ride.

I had even bought a tool called a "PaintShaver" that was on "This Old House" so I could start taking the paint off the siding to restain it.

[DAWG]

If you already got an attorney give the bank notice that youll walk away from the deal if they don't pick up the liens on the home.
The bank wants the home off their books and it cost them everyday.
I did this on the current home I own in Colebrook.
Previous owners owed 13,000.00 in back taxes and owed a building company the remainder of the monies to build the detached garage.
4 days after posting notice of intent to "walk away" they ate the lien cost.
Lets face it in this economy now you can squeeze the banks balls to get what you want!
Not many have the money to get a house these days.

[DavidS]

Originally Posted by DAWG

I did this on the current home I own in Colebrook.

How long did it take the bank to pay it off?

They will definitely have to pay it off, no matter who they sell it to.

The big question is.....how long will it take?????

I'm guessing that it won't be quick. Wells Fargo is a massive company with a market value of $185 Billion and 270,000 employees. The amount of this deal doesn't even add up to pocket lint for them. They have multiple layers of bureaucracies and attorneys to go through.

[DAWG]

took 2 weeks and it was a done deal.
Now one thing I would ask myself if I was in your situation is that is it worth it to proceed with this home or look for another?
Or maybe buy some land and build to suit your needs?
With all the needed improvements and hassles it might be better to look elsewhere IMO.