The property we were pursuing at the public trustee auction, located in Tempe, AZ, went to a higher bidder. Opening bid on the property was $143,000. We felt comfortable purchasing this property up to $150,000, our highest bid. The home ultimately sold for $154,900.
For those not overly familiar with the process, this is par for the course. There's no need to get excited just to purchase a property. You get excited when you can pick one up at the auction for lower than your highest bid. If that happens, you've had a good day.
Finding homes at price points that make sense are few and far between after you factor in the competition. With that being said, there are properties available if you search EVERY SINGLE DAY! Be persistent.
On to the next prospect.
Showing posts with label public trustee auctions. Show all posts
Showing posts with label public trustee auctions. Show all posts
Monday, November 17, 2008
Sunday, November 16, 2008
Arizona Public Trustee Auction - Potential Property for Monday (11/17/2008)
On the radar, we have a property that we're looking to pick up from the public trustee auction. It looks like the current occupants are in the process of moving out. On paper, the numbers look great which means there's most likely considerable work that needs to be done to properly renovate the home.
Waiting to hear back from our lender to get his thoughts on funding and valuation. Updates to follow!
Waiting to hear back from our lender to get his thoughts on funding and valuation. Updates to follow!
Wednesday, November 12, 2008
Scottsdale, AZ Home - Where do We Stand with the Eviction?
We don't know! We'll be finding out today as the occupants plead guilty in their court appearance and are now required to move out by no later than November 11, 2008 (midnight). At 12:01AM, November 12, 2008 they're no longer lawfully allowed to remain in the home. If they continue to occupy the residence, we'll have to work with our lawyers accordingly to contact the constable for a potentially forceful removal.
We most certainly hope that it doesn't come down to this. An eviction process is not fun for either party but especially for the occupant. It's an unfortunate reality. When we purchased this home from the public trustee auction, the occupants were still in the home.
Once the eviction is finalized we'll get our first glimpse to see how much work is in store for us with this remodel. With these types of situations, you never know.
You can let the fear of the unknown rule your reality or you can get down to the business of the day. Difficult circumstances will always have to be dealt with and your success or failure will be born from the manner in which you handle the situation.
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Property Qwest Project Details
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Address:
8205 E. Devonshire Ave.
Scottsdale, AZ 85251
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We most certainly hope that it doesn't come down to this. An eviction process is not fun for either party but especially for the occupant. It's an unfortunate reality. When we purchased this home from the public trustee auction, the occupants were still in the home.
Once the eviction is finalized we'll get our first glimpse to see how much work is in store for us with this remodel. With these types of situations, you never know.
You can let the fear of the unknown rule your reality or you can get down to the business of the day. Difficult circumstances will always have to be dealt with and your success or failure will be born from the manner in which you handle the situation.
--------------------------------------------------------------
Property Qwest Project Details
--------------------------------------------------------------
Address:
8205 E. Devonshire Ave.
Scottsdale, AZ 85251
- Project just starting
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