Thursday, June 19, 2014

It all started with Zillow

For those of you with iPads, smart phones or any type of implement that can load an application, and those of you with a LOVE of dreaming of buying a home somewhere/anywhere in the US; Zillow is dangerous. I mean DANGEROUS!!

I have dreamed and shopped for the last 5 years or more. I have watched the market ebb and flow in Fort Walton Beach, Venice Beach, Mexico Beach and a myriad of other places. I have watched homes go on the market, watch them sell and been SHOCKED at what they sell for when going on auction. Been saddened that I hadn't checked it often enough or fast enough to note that the house behind my MIL went on the market in 2011 and SOLD quickly for a mere $75,000 as we had talked to the owner of the house a few years prior telling them "if you ever want to sell, call us FIRST". Well, apparently the husband passed and the wife didn't remember, didn't think to call over to Sally's house and whala the house sold without our having a chance to so much as bid on it... sigh. So I watched and waited and looked at houses and dreamed of buying an auction home down there.

So what should greet me earlier this week but a note on the house directly behind Sally listed at $100. What??? No, it wasn't a typo, that is the starting bid on the property. I talk to Butch about it, show him and encourage him to go down there on the auction date and stand on the court house steps and put his best bid in like you see on TV in the house flipping shows. He agrees and the research begins.

First shocker is that auctions are longer on the court house steps; well, at least not in this county. It's all on line.
Second shocker is that banks will not give you short term secured loans. Really - nope, won't do it.

So the process has begun, a lawyer has been contacted and paid to do a title check on the house to make sure there are no liens we don't know about. That should be done by Monday/Tuesday and the auction is on Wednesday.

This should be an exciting process - wish us luck!

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