50 Maple Street Up for Auction
After paying $708,000 for the 3,172-square-foot house back in 2003, the owner of 50 Maple Street appears to have run into some trouble in recent months. The beautiful house came up for foreclosure auction back in April but evidently dodged the bullet; now it’s scheduled again for 3 p.m. this Thursday at 360 Adams Street….
After paying $708,000 for the 3,172-square-foot house back in 2003, the owner of 50 Maple Street appears to have run into some trouble in recent months. The beautiful house came up for foreclosure auction back in April but evidently dodged the bullet; now it’s scheduled again for 3 p.m. this Thursday at 360 Adams Street. The lien is $286,056, a relatively modest figure given what a stately home this is. Any neighborhood scuttle on this one? GMAP P*Shark
It’s not the renovations. You can guess at those. The problem is other liens, building violations, taxes owed etc.
If this house has $800,000 of undisclosed encumberances and you pick it up at auction for $286,000 thinking you got a great deal, you have just gotten snookered big time.
Mopar, perhaps we will bump into one another in the night on the sidewalk peering into houses! I think my own snoopiness is why I always diligently close our blinds at twilight.
DeadCatBounce, I do understand. But it wouldn’t be crazy for somebody to ask $1.2mm after renovations for this house based on comps and it’s not a million dollars work on this house. A million dollar reno is more like what the infamous shell on Bedford Ave in LM is probably going to require. (Which has sold according to rumors). This house is NOTHING like that one in its condition. As I said it’s looking pretty nice through the front windows.
DCB, just sign power of attorney and send you attorney to bid on your behalf.
traditionalmod, the problem with foreclosures is that there may be other encumberances.
$286,000 + X + renovation costs =< market value then you got a great deal. You can guess at renovation costs, but the “X” could be anything, so you have to know before you bid.
Ha, so I’m not the only person who peers into windows of houses she likes? LOL.
“Possibly worth 286K as long as it’s in good shape inside”
Actually this would sell for over a million easy. The house is huge, at least 5 BR for sure, and it’s beautiful inside from what I’ve been able to see peeking in at night when lights are on. Good, clean condition with lots of detail. The front windows to the right of the door are all looking out of a large LR with a lovely fireplace; the LR stretches horizontally across the front of the house and the DR is behind it. That’s all I’ve been able to see. This is a favorite house of mine so I’m snoopy!
I’m coming empty handed, Maly. I’m chicken: I spent too long saving my duckets to pour them down a black hole. If you look at that building … holy cow that is a lot of square footage that could be rotten to the core.
Can a Heloc bring about a foreclosure?
This is what I found on the NYS court system:
https://nycourts.gov/courts/2jd/kings/civil/foreclosures/week2/50-Maple-Street.pdf
Serpentor, I think I will come too. I’m not ready to buy yet, but I could use a bit of education.
Realty trac doesnt even have this listed