Ignoramus28268 wrote:
On 2011-04-24, RS at wrote:
On Apr 24, 7:52?am, Ignoramus28268ignoramus28...@NOSPAM.
28268.invalid wrote:
The contract from the auction is he

? ?http://igor.chudov.com/tmp/House-On-...r/Contract.pdf

i

The "we get to strip mine your property clause": "The mineral estate
has been severed from this parcel and will not convey upon transfer of
the surface estate".

There is no minerals there, other than the gold nuggets laying open,
of course.

"This property may be bound by the assessments and restrictions of a
condo/home/property owners association and Buyer agrees to be bound by
same and to assume any special assessments that may become payable
after the Closing date"

This little gem of a clause means that your pocket is subject to
picking when some busybodies want to pick your pocket. An example
might be when the HOA decides to make a special assessment to plant a
hedge around the strip mine, so they can pay their brother in law who
gives nice kickbacks.

Yes, but I am completely positive that there is no HOA. I lived just
one street down from there.

When you look at paragraph 7& 8 you will see that if for some reason
your check bounces you will have to sell your wife to a white slave
ring in Zimbabwe, forfiet all your worldly goods and possessions and
anything else they can dream up.

If however for some reason the seller is found at fault for the most
egregious swindle, you will be due an apology without admitting any
wrongdoing.

All pretty standard stuff when the contract is written by the seller.

Congratulations on your purchase, you should come out just fine.

Thanks. All I want is to get a good title and the house. I went there
today and duct taped a small piece of a window in a shed that was
broken.

Talked to one neighbor. One good news is that it is not a flood
zone. Flood zone ends on the other side of the street.

mark that end of the flood zone with a sign so when it does flood the
water knows not to go beyond the sign.


John



Turns out that the financial story behind the auction was not that of
out of control spenders. The owners were an older couple, wife
developed a "very serious illness", and they had to borrow a lot of
money to pay for her treatments. They probably knew that they could
not repay the debt. Anyway, they did not repay, of course, the house
went on auction, and I bought it.

i