The sheriff will read the property description aloud, in order to fully inform any prospective buyers and maximize the value on sale. This should take some time, and any questions must be raised at that point, for all to discuss and resolve. For instance, what is the neighborhood like? Are there any criminals or registered sex offenders living nearby? Is there a good internet? What is an appurtenance? Is there a new airconditioner outside? If it's sitting on paving blocks, is that attached to the house, or is it the property of the previous resident? Are there any utility easements not described on the county survey? Has the previous owner made any unrecorded agreements with anyone else in the community, such as free grazing or hunting leases? What obligations might pass to the new owner? Does the septic tank work? Who has inspected it recently? Are there any Indians buried on the property? This discussion may be lengthy. There won't be a court recorder, so I would recommend videotape. I have a hard hat with a video camera perched on top, so we can all remember the questions and answers later on. Or you might bring a friend to operate the camera. If the process is not followed correctly, you may ask to void the sale later on. It's always possible the mortgagor will pull the property from sale and reenter negotiations, maybe with a clearer understanding of the situation.
If all efforts fail in preforeclosure negotiations, and your property comes up for sale, there are certain customs that must be followed. The mortgagor, or his Trustee, must appear physically to represent his interest. Pay attention, because this may be the only time you are physically able to meet. He has probably kept a low profile to this point. It may be an opportunity to question how he came into ownership of the property. Does he live nearby? Has he ever visited? What are his plans for the property after receipt of sale proceeds? The sheriff is nearby, in case of any trouble, so you can feel comfortable during the discussion.
The sheriff will read the property description aloud, in order to fully inform any prospective buyers and maximize the value on sale. This should take some time, and any questions must be raised at that point, for all to discuss and resolve. For instance, what is the neighborhood like? Are there any criminals or registered sex offenders living nearby? Is there a good internet? What is an appurtenance? Is there a new airconditioner outside? If it's sitting on paving blocks, is that attached to the house, or is it the property of the previous resident? Are there any utility easements not described on the county survey? Has the previous owner made any unrecorded agreements with anyone else in the community, such as free grazing or hunting leases? What obligations might pass to the new owner? Does the septic tank work? Who has inspected it recently? Are there any Indians buried on the property? This discussion may be lengthy. There won't be a court recorder, so I would recommend videotape. I have a hard hat with a video camera perched on top, so we can all remember the questions and answers later on. Or you might bring a friend to operate the camera. If the process is not followed correctly, you may ask to void the sale later on. It's always possible the mortgagor will pull the property from sale and reenter negotiations, maybe with a clearer understanding of the situation.
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