|
||||
| | ||||
Posted by Bill H on September 10, 2005 at 15:43:02:
In Reply to: Sam posted by Tax foreclosure vs bank foreclosure? Delimma? on September 09, 2005 at 02:59:39:
: I bought a property at the tax sale in harris county (houston texas) on august 2nd 2005. The same day, the same property was foreclosed by the bank without any bidders i.e: they ended up with the property. Now wellsfargo wants to evict the previous owner. I dont want to do that as by state law, I am the new legal owner (tax lein being superior to mortgage lein) and I assume I have the right to say who stays and who doesnt. I spoke with the previous owner who has fallen on some hard times. I want him to stay without rent so he can get back on his feet. The previous owner just got an eviction notice from wellsfargo asking him to come to court on 08/14 for forceful removal. I have faxed wellsfargo a notice that they need to speak to me on who stays and who doesnt but they havent responded. Instead, they continue to try to evict the previous owner. How do I become party to this case? How do I stop the bank from evicting the tenant when I want him to stay?
Sam:
Hang tight. You will now be sued by Wells Fargo,,,,etc. They will claim they were not proper notified, etc.
To start to protect yourself go to the local recorders office and get copies of all the documentation on the property. They should have recorded the fact that they were forclosing for tax sale and who they notified, etc.
We in the tax sale business go through this from time to time.....be prepared....you win some you lose some. If you only want the $$$ then negotiate with WF for a fair amount, give then a quit claim deed and move on.
Good LUck,
Bill H
