Wednesday, January 25, 2012

Interesting timing

I've complained here before about the two properties on either side of us that are in the foreclosure process.  I've mentioned that we would love to have the smaller of the two places, the one northeast of us.  We'd like it mainly because of the fine pole barn, the door of which practically opens up on our property.  That's how close it is.
We likely don't have the funds to buy the place, and we have been quite ignorant of the foreclosure process.  Yesterday a surprise tutor came to our front door and explained to us how it works.  


The guy who is going to be fixing all the damage in the other neighboring house, the one on the west, came here looking for information about that property.  He has the option of either doing the repairs for the bank (to the tune of many thousands of dollars) so they can sell it, or buying it himself, to fix and resell.  He buys foreclosed properties all the time, does repair, and "turns them around" as he calls it.  This is a man we've known for years.  In fact, fifty years ago my mother was his mother's Avon lady.  
Charlie told us step-by-step exactly what we needed to know about buying such a property, and who we need to talk to.  The first step, he said, is to wait for it to sell on the courthouse steps.  
"How do you know when that's going to happen?"  
"You watch the Odessan," he answered.  "There will be a notice in the paper that has to run for three or four weeks."  
I mentioned in yesterdays ramble that I had made out a check to subscribe to the Odessan after three years of doing without it.  In fact, the addressed, stamped envelope containing the check was at Charlie's elbow as he spoke with us.  
We do not intend to borrow money to buy a place we don't need.  If you knew the total amount we have in various savings accounts, you would laugh at us for even thinking of purchasing any sort of property for that pitiful amount.  I don't look for it to happen.  
But if it does, it wouldn't be the first time we've been surprised by circumstances.  

7 comments:

TARYTERRE said...

About you buying that foreclosed property... You NEVER know when fate is going to shine down upon you. Stranger things have happened I'm sure. Glad Charlie TOLD you WHAT you need to know. GOOD LUCK. PS) Kind of neat about your mom being his moms Avon LADY. I miss my Avon lady. Used to enjoy her visits, years ago.

Earth Mama said...

I hope the stars aline just right so you can get this property! What a nice thing that would be.

Peace~ Earth Mama

Paula said...

You could get it, we did as I told you before. We had one hour to get the money and get back to the courthouse. 30,000 for a three bedroom brick house. Hope you get it.

Tipper said...

I say there is no harm in checking out all the possibilites-you just never know!

darev2005 said...

Like everyone else seems to be saying... You never know until you try!

krueth said...

Seems like you may have a chance, cause really whats the chance you would just be subscribing to the paper, and what are the chances that someone you know would come to talk to you.... Seriously... I sure hope it works out for you! God works in mysterious ways :-)

Anonymous said...

Dee from Tennessee

Agree - God DOES work in mysterious ways. And with Him ALL things are possible. (I've heard of ppl buying on courthouse steps but have never watched the paper, etc.) Best wishes only!