Post # 1
FI & I are going to an auction in the morning for a house near my parents (oddly enough the same house a childhood friend lived in during our high school years).
Just looking for some prayers/good thoughts/luck. We would very much appreciate it!! 🙂
Post # 4
Sending lots of positive vibes your way!
Post # 6
Good luck! Hope you get the house!
Post # 7
Sending happy, lucky thoughts your way!! Let us know what happens! 🙂
Post # 8
Post # 9
How exciting:)))) GOOD LUCK is coming your way!!!!!!!
Post # 10
Thank you everyone!! However I have some…frustrating (I guess is the best way to put it)news.
We got to the auction and right off the bat they announce that this particular house was, for the second time, taken off of the auction block. We were given the number of a representitive to talk to.
All she could legally tell us was that there was a hold-up with the previous owners (whom I and my family know personally) and that’s what was keeping it from going to full auction.
I have no details apart from that. My mother is facebook friends with the woman who had previously owned it (I graduated and was decent friends with her daughter) and we are trying to decide the best course of action!
Would you bee’s try to contact this woman and ask what was going on? That’s pretty much our only option to get to the bottom of this but I don’t know if that would be appropriate.
Post # 12
@LadyBortles: Hmmm, I don’t know. I’m guessing if the house has (almost) gone to auction twice, it’s probably not that the family wants to willingly give it up. I think it would be nosey and awkward to ask why, unless you were close friends. But Im guessing if you still knew them well, you would already know more about the situation. Is there a third party you can contact to ask about negotiating a purchase? Is it a bank owned home?
Post # 13
@Snapdragon2804: Supposedly, yes, it IS bank owned.
The house has sat empty for probably a 3+ years now; as the family just up and moved (we’re talking things were packed and they were completely moved out in two days time…) to move closer to the daughter after her marriage & pregnancy.
The woman we were told to call yesterday was a representive of the bank they had the mortgage through (Wells Fargo); and the only person we were told could give us any kind of information. But she said that all she was legally allowed to tell us was that there was a hold-up with the previous owners. (I’ll also mention that this representitive was located in Ohio; where as we are in Kentucky. So we couldn’t go to the office location and speak to someone in person without planning ahead)
So you can see why we’re kind of in a pickle. :/ According to all postings on the property it is owned by Wells Fargo but then on auction day it’s pulled off the block because of this same “unknown” hold-up.
The reason we were even tempted to ask the couple personally was because, since they did know myself & my parents, that they may have been willing to negotiate something knowing who was looking at/interested the home. (If that makes sense; we’re small-town “everybody-knows-everybody-and-thier-family” people, lol).
Do you know if there are any other options for us? We have another option in case this is just a dead end; but we wanted to pursue all possible avenues with this home first.
Post # 14
Hmm. There can be majpr plumbing/HVAC issues in houses that have been vacant that long without the systems regularly being used. Make sure that you know what you’re getting into….those issues can easily climb into the tens of thousands of dollars.
I would give up on this home, honestly. Interest rates are starting to climb. I would move on to another home, lest this one continue to fall through, leaving you with a much higher cost mortgage on a different home you’ll end up buying anyway. Or, you get the home, and then end up paying a huge percentage of the home’s value in repair costs. Neither is an ideal scenario.
If this property is bank owner, the owners have no say in how much the home is sold for. That’s up to the bank.
Post # 15
@crayfish: Thanks for your input. 🙂 I *might* have the ‘vacancy time’ wrong as I haven’t lived with my parents for several years, and the owners move-out happened during that time.
I honestly didn’t think about their being any issues with the plumbing or anything :/ During the first auction someone was coming by every so often and going into the house (what they were doing; we’re unsure. But it either had to be someone from the bank or law office or someone who knew the family as the home is locked up tight!) so we thought maybe they were inspecting or taking care of things of that nature.
We do have a back-up; so it may just be time to pursue that (however this option will require more work…but we may be able to get at a better price. Hooray for family-owned land right? Lol).
We are a po-dunk, one-horse town and were told by the law office that, a good portion of the time, when the reps are out-of-state they don’t even send anyone (and they haven’t both times we went) from their bank and let the law office sell it for whatever it goes for. So it was a property we knew we could get at a steal; as both times we (and my parents as they offered to help us if we needed it) were the only interested parties!
However we can’t understand is that, if it is indeed bank-owned, why it’s the owners that are holding it up from actually proceeding to be auctioned off. :/ We may never know, sadly.
Sorry for all that. I’m just trying to give as mucn info as I can 🙂