Trustee Auction: Appliances, Ownership, Loans

Foreclosure Investing
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Sean, 1) I am thinking about bidding on a couple of properties at auctions; How is ownership of the appliances established? . I think the owners are living there now. 2) Also, how can I determine in advance of the sale who is ,in fact, living in the house. 3) On the property I am interested in, the loan that is being foreclosed on isn?t shown on ForeclosureRadar (though later assignments of it are, so it may be an oversight), I am planning to go to the county to see if I can find it there, tomorrow. Is it true that it must be recorded for it to be legitimate?

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  1. I am thinking about bidding on a couple of properties at auctions; How is ownership of the appliances established? . I think the owners are living there now. In theory, built-ins (oven, micro-waves, dishwashers) become part of the real property. Microwaves not built in, most refrigerators, a free standing range are personal property. A grey area would be a slide-in range. A former owner intnet on trashing would take everything. ==== 2) Also, how can I determine in advance of the sale who is ,in fact, living in the house. You have to be a detective and spend some time. Talk to a neighbor, see who the mail is delivered to, become friendly with someone at the utility company, run down the license plate of the car in the garage. ===== 3) On the property I am interested in, the loan that is being foreclosed on isn?t shown on ForeclosureRadar (though later assignments of it are, so it may be an oversight), I am planning to go to the county to see if I can find it there, tomorrow. Is it true that it must be recorded for it to be legitimate? The loan IS recorded. The recording info would be on the various assignments of said loan. It would also be on the NOD and NOS. Think about it - how would a lender be able to reference a (non-existent TD on said docs if it weren’t recorded in the first place???
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MikeT - you are a star, thanks for the prompt and insightful replies! Steven - In order for a NOD to show in our system it has to be tied to a loan, so I don’t see how it would be showing. That said, please feel free to email support (at) foreclosureradar.com and they’d be happy to research it for you. Sean Sun Jul 8th 2012 at 9:51pm