Foreclosures In New and Unusual Places
Glancing at the list of foreclosures on the docket tomorrow, we noticed, among the usual sea of properties in Bed Stuy, Crown Heights and East New York, a couple of houses in areas that have not felt the sting of the current mortgage crisis much-—Park Slope and Bay Ridge. The house at the left, 271…
Glancing at the list of foreclosures on the docket tomorrow, we noticed, among the usual sea of properties in Bed Stuy, Crown Heights and East New York, a couple of houses in areas that have not felt the sting of the current mortgage crisis much-—Park Slope and Bay Ridge. The house at the left, 271 11th Street, is a three-story (two plus English basement) place with a lien of $148,300, a surprisingly small amount to lead to a foreclosure in this part of town; the charmer on the right, 513 72nd Street, has a larger tab, $428,044 to be exact. Both are scheduled to be auctioned tomorrow at 360 Adams Street at 3 p.m.
Foreclosure: 271 11th Street [PropertyShark] GMAP
Foreclosure: 513 72nd Street [PropertyShark] GMAP
Found this, but the last auction it lists is from 2006.
At lease it has info for how the auctions works.
http://www.nyc.gov/html/dcas/html/auctions/dres_menu.shtml
Maybe you should consider converting, 10:17.
where do we get more infomation about these auctions. Is there a website somewhere that lists these and talks about the process. I’m not hassidic, so I dont’ have an in with anybody.
You’re telling me, 10:11. If Carroll Gardens (aka, NYC’s most exclusive address) goes down–I’m loading up the truck, loading up my twelve gauge, and heading for the Hudson Valley!!
I halfway worry there may be people who run off tomorrow with their life savings — so let me warn people when you buy a foreclosed home, you pay the bank lien and then are responsible for any other liens that may be on the place (water, second liens, etc) and are responsible for removing tenants/owners (not for the weak of heart as you might be tossing an old lady on the street). They can be good values, but just make sure you run all the appropriate searches before you hand over the kids’ college tuition.
‘you know a foreclosure brings property values down for all the surrounding areas’
If there’s a foreclosure in Carrol Gardens, this city is screwed!
Don’t get your hopes up. Just because a property is listed for auction does not mean it will be auctioned. Owners can pay up to the last minute and often do, don’t ask me why. If you luck out and see something you want to bid on, bring plenty of dough. The city accepts only cash and cashier’s checks. The Hassidic guys who usually form most of the audience at these things bring stacks of $10,000 cashiers checks so they can pay the deposits, which are due immediately. If you buy an occupied house, you’re going to have to evict the family or families in residence. It is not for the feint of heart.
Maybe the RS tenant is The What!
I think the 11th street house has some RS tenants.