Identified Schools for This Property: These are the schools that have been identified by the listing agent and/or the seller as the schools that appear to serve these properties. Tenants in Non-Regulated Units: Tenants residing in units that are not subject to rent control or rent stabilization may retain occupancy either until the end of their lease term or for 90 days after receipt of the notice from the new owner, whichever is greater.
If your offer is for less than the mortgage balance the sale is considered a short sale. Dishonest companies or individuals sometimes target homeowners who are struggling to meet their mortgage commitment or are anxious to sell their homes. Instead the mortgagee realises the security through sale, the exercise of the power of sale also being regulated by statute.
Properties that do not sell at a tax sale become part of the resale inventory offered by the Travis County Tax Office and are for sale at any time. Some loans serviced by PNC Bank or PNC Mortgage for private investors require that foreclosed property be transferred to the private investor on or after foreclosure.
He says with less inventory on the market recently, it’s getting harder to find properties, and banks are demanding higher prices even for destroyed homes. If there is a large difference between the market value of a foreclosed property and its final judgment amount at auction, you can really win big.
The homes in the auctions range up to 5,900 square feet and have been previously valued at more than $1.7 million. Not all contract sales are contentious, and some nonprofit organizations have recently tried using the arrangement as a vehicle to help get homeless families into homes.