Real Estate Information |
|
Forclosure And The Durrett Rule
It's probably happened to you... Folks learn that you know something about real estate investing and they eagerly ask you about buying foreclosure property. The general assumption is that they can buy a beautiful home at a deep discount at a foreclosure auction. Their smiles fade when you explain that they will have to pay cash on the spot and they must be able to research title to be sure they aren't buying trouble. But wait... there's more... There is also a little something called the "Durrett Rule". Oh boy... can that be a like a knife in the back. For example: You spend the time and effort scouting out a nice home scheduled for foreclosure auction. You search title and scare up the cash to have in your pocket when you go to the sale. Hurray... You have the winning bid at the foreclosure sale and buy the home at about a 40% discount to market value. After doing your happy dance you spend the next few weeks doing needed fix up. Then you find a renter and settle back to collect rents for the next few years. But wait! Who's that knocking on the door. Why it's a nice man who says he is taking the home away from you. Who is this pretentious devil? He is the dreaded... BANKRUPTCY TRUSTEE! Shortly after the original homeowner lost his house he filed for bankruptcy. The wheels of the bankruptcy court grind slowly and the trustee just recently learned that the house had been sold at the auction. And... The foreclosed upon owner had a nice hunk of equity in the home when he lost it. Uh oh.. get ready for this. It is trustee's job to capture that equity so it can be distributed among the bankrupt home owner's creditors. Can he do that? Yes! Under the power granted by The Durrett Rule the trustee can show you the door and claim the home in the name of the bankruptcy court. You, see the bankruptcy court has more power than Edison Electric. It can do about anything it wants when it comes to assets and creditors. Oh sure, months later, after a battle in the bankruptcy court, you should be able to recover the money you paid for the home. Of course... no interest is paid on the money for the time it is tied up in court and you will not be able to recover the attorney fees needed to get your money back. Buying at foreclosure sales is not for sissies! Stick to an easy money tactic... buy in the preforeclosure period with this system. About The Author - Mark Walters is an investors and author. His published works can be found at http://www.CashFlowInstitute.com
MORE RESOURCES: Real-estate agent explains new fees to homebuyers, he's not worried Business Insider Dr. Phil left speechless after real estate agent claims that squatting is justified by colonization New York Post Think You Can Buy a Home Without a Real Estate Agent? You Can—but Here's Why You Might Botch the Job Realtor.com News Office market collapse: Commercial foreclosures spike 117% in a year Business Insider Inside Chris Pratt and Katherine Schwarzenegger's Real Estate Portfolio Architectural Digest Real Estate Sales Include Two Falconer Commercial Properties Jamestown Post Journal Real-Estate Agents, Investment Advisers Chafe at New Anti-Money-Laundering Rules The Wall Street Journal Real estate expert says several factors impact farmland prices brownfieldagnews.com OT Real Estate Spotlight of the Week: 4218 Edgewood Court The Owensboro Times LOCAL REAL ESTATE TODAY 4.19.24 – KQEN News Radio kqennewsradio.com The Michael Houck Real Estate Guide for April 20 and 21 Oil City News How environmental insurance diligence can shape commercial real estate transactions Insurance Business The HYM Investment Group, Cathexis and National Real Estate Advisors Announce Pre-Leasing at Amaya Boston Real Estate Times Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate The Wall Street Journal EG Real Estate: Busy Spring Market – East Greenwich News East Greenwich News East Bank Master Developer Agreement with The Fallon Company Approved Boston Real Estate Times Critical Survey: Wheeler Real Estate Investment Trust (NASDAQ:WHLR) and Cousins Properties (NYSE:CUZ) Defense World Prologis Warns of Slowing Industrial Real-Estate Market The Wall Street Journal S.F. housing market: Still very few homes, selling even faster San Francisco Chronicle Top 25 Columbus Residential Real Estate Deals for January 2024 Columbus Monthly Healey-Driscoll Administration Names Alison Brizius New Coastal Zone Management Director Boston Real Estate Times How Real Estate Helped Taylor Swift Become A Billionaire Yahoo Finance An investigation into the University's controversial real estate holdings Johns Hopkins News-Letter Banks Believe They Are Well-Prepared for Commercial Real Estate Fallout The Wall Street Journal Q1 2026 EPS Estimates for Alexandria Real Estate Equities, Inc. (NYSE:ARE) Decreased by Zacks Research Defense World Darien and Rowayton Real Estate Report: April 11 to 18 darienite.com 21 Largest Real Estate Companies in the World Yahoo Finance Ohio Department of Commerce Division of Real Estate and Professional Licensing offers tips – Daily Chief-Union Dailychiefunion Robert Bailey on Real Estate TPG Online Daily Robin Hunden of Hunden Partners honored with Jeffrey D. Fisher Real Estate Legacy Award from Indiana University's ... Daily Herald SAGE Investment Real Estate Advisors sells 24-unit Bergen County garden-apartment complex ROI-NJ.com See the latest Coles County real estate transactions Journal Gazette / Times-Courier Oregon Senate strengthens consumer protections in real estate transactions Curry Coastal Pilot Dream Industrial Real Estate Invest Trst (TSE:DIR.UN) Stock Price Passes Below 200-Day Moving Average of $13.02 Defense World Real Estate Broker Commission Settlement ClassAction.org SVN|J. Beard Real Estate adds chief investment officer to Houston office – REJournals REjournals.com Two Weichert real estate agents in Willmar recognized for work in 2023 West Central Tribune TikTok’s Origin Story: Court Files Show Role of GOP Megadonor Jeff Yass The New York Times Tortured Poets or Real Estate Rock Stars? Taylor Swift's Past Boyfriends—and Their Incredible Homes Realtor.com News Real estate brokerage firm Marcus & Millichap arranges $12.8 million sale of Fayetteville, NC mobile home park ... Greater Fayetteville Business Journal China home prices slumped in March as property crisis drags on Business Insider Importance of home inspections in Indianapolis real estate WISH TV Indianapolis, IN Downtime: Pairing wine and real estate RichmondBizSense Navigating the changing role of real estate agents WISH TV Indianapolis, IN Blackstone Earnings Rise as Investment Giant Projects Commercial Real Estate Recovery - CoStar Group Real estate mogul concerned how Americans will deal with squatters: ‘Something really bad is going to happen’ Fox Business PICTURES: See Inside Johnny Cash's Spectacular Real Estate Holdings Taste of Country Fannie Mae, Freddie Mac clarify real estate commission rules National Mortgage News How Alexico's $180 Million Deal With St. Francis College Fell Apart The New York Times Former HGTV star from Los Gatos sentenced in $10M real estate fraud case CBS San Francisco Housing Market Predictions for 2024 & 2025 Remain Subdued Norada Real Estate Investments Meet Samantha: Your A.I. Real Estate Agent of the Future The World Property Journal |
RELATED ARTICLES
Maximizing Curb Appeal and First Impressions to Sell your Home We all know that a home or property of any kind, in order to sell faster and at a higher price, should have what is known as curb appeal. Frequently, it is not the expensive things that make a difference. 6 REASONS for Investing in Florida Real Estate Investment Property NOW I invite you to take the next few minutes to learn the truth about the real estate market, how it compares to other methods of building assets and why it is such a lucrative form of investing. Many potential investors will say, 'I need to get into the Florida Investment Property market', especially taking into account current stock market fluctuations and the HOT market for investment properties, but simply don't know the facts about Orlando property investing and how to use sale and leaseback method of property management. Residential Income Property Financing: Part 2 of 3 Welcome to the second segment of a three-part series about income property. In this second segment we will be discussing financing options for residential income properties as well as the upside (and downside) of owning this type of property. Realtors - Self Promote Your Way To Success Okay, so we all can agree - listings are the lifeblood of the real estate industry. And if the keys to selling them arelocation, location and location, then the challenge in getting them is self-promotion. How To Buy Property in Spain Safely Buying property abroad is not an undertaking one should embark upon lightly! It is not wise to assume that the entire purchase process will follow the rules we're used to 'back home' and generally speaking there are usually a whole new set of rules and regulations, traditions and traps to learn, understand and watch out for.Spain is absolutely no exception and has a tangled web of laws and legislation seemingly designed to trip up an unwary real estate buyer. Selling Houses: Design Psychology Works! I've taught the concepts of Design Psychology for many years, and I know how much it can empower a person, and allow them to create a fabulous home that sustains their emotions. Since it's based on science, I know that Design Psychology is effective at turning plain spaces into happy places. Appraisal vs. Market Value: How to Avoid Pitfalls in the Sale of Your Home When you sell your home, appraisers use comps (comparable market sales) of local properties sold within the last six months to value your home. With today's rapidly rising seller's market, six-month-old information is ancient history. Buying Property in Bulgaria : How to Avoid Making A Bad Investment Where is it possible to buy a property on your credit card? Bulgaria, of course! With thousands of potential property buyers seduced by Bulgaria's bargain property prices, the temptation is to think that making a solid return is a no-brainer! Searching the Internet, dozens of articles and property websites boast about the 100% capital growth that can be achieved on Bulgarian property investments in the space of 12 months.For first time investors with small budgets looking for a step onto the property ladder, this seems like an opportunity almost too good to be true! The result is that thousands of novice speculators and second homebuyers are flocking to Bulgaria to cash in on the investment opportunities it offers. Real Estate Investing - The First House Purchase Real estate investing usually begins with the purchase of a house, rather than raw land or commercial property. The purchase of a relatively inexpensive house for rental or fix-up purpose is usually lower risk than any other type of real estate investment. Land Subdivision - $1.2 Billion Dollar Developer Tells You How To Do It Land subdivision is a bit like helping Mom slice up her beautiful Apple Pie; it's all so easy, when, like Mom, you've done it a few times. So let's see if we can get the ingredients for a land subdivision correct so you can do it right first time, OK?Every city or town in the free world has a Town Plan and it comprises, not surprisingly, of plans or maps, usually with lots of different colors all over them, but also lots of words explaining what the colors mean as well as lots of Rules that tell you what you can do with land. The Professional Investors Plan The art of using high-leveraged activities.Here I would like to make just a few suggestions that will hopefully save you from wasting years of hard effort only to learn in the end that had you invested using a better strategy, you would have realized more profit, happiness, satisfaction, control and free time as a result. Should You Buy Real Estate Now I have been seeing the market on fire for a long time and have started telling my friends, "don't buy now". No one can accurately determine exactly when it will happen, but it is definately on the way. Homebuyer Heaven Can't Possibly Last With interest rates at record lows over the past year, there's really only one way for them to go, the only question is when. Most experts agree that rates will remain fairly stable in the short term, at least until the end of the year, and some believe they will even decrease slightly. Selling Your Home - What Can Go Wrong With Pricing and Loans So, you're selling your home (house, townhouse, condo, apartment, land, lot, farm, ranch, etc.), what can go wrong? The sad fact is that a lot of things can go wrong. Home Staging: How to Make Your Tract Home Stand Out in the Crowd Home sellers who wish to market their property in development neighborhoods face tough challenges. All the houses look similar. How to Make Money from the California Real Estate Gold Rush What do the Californians know that we don't?What is so special about California? Why is the average price of a house there five times higher than nationwide? Why on a salary of $100,000 per year, you can hardly afford to rent a decent apartment in the large cities there?It is true, Californians have a nice looking Pacific coastline. They also have a pleasant climate. How To Sell A Home That Didnt Sell If your home has just come off the market and hasn't sold, don't be discouraged. The reason it didn't sell may have nothing to do with your home. Back To The Future - Big Changes Are Coming, Get Ready Now The comments below are quoted from a recent speech by Ben Bernanke, a member of the Federal Reserve Board of Governors.. Kings Bay Georgia Real Estate - An Amusing Tale About a Real Estate Agent This story is true and not meant to hurt anyone, but the more that I think about what happened, the more it makes me laugh. I hope that you not only get a chuckle from it as I did, but take your time and look for a professional real estate agent. Buying and Selling Distressed Houses for Maximum Profit (Update) If you want to become a real estate investor, find a "fixer-upper" owned by an anxious seller. Finding distressed houses at bargain prices, fixing them up, and then selling them on a consistent basis can make you a multi-millionaire. |
home | site map |
© 2006 TIGER MEDIA |