No news to report on the dirt cheap house Hick and The Pony want to buy. Of course, at the time I write this, it's only been 36 hours since we found out it existed. Maybe that's a sign. Maybe not.
Hick talked to Loan Officer, who said that TECHNICALLY, the house was not yet in foreclosure. He would have to discuss the matter further about the legalities of what Hick was proposing. Heh, heh. Maybe he didn't think Hick would act immediately.
I don't know how this stuff works. Hick says the S&L will post a notice when the property is foreclosed, and it will be sold to the highest bidder on the courthouse steps. I guess I'll take his word for it. I thought they only had that kind of sale once a year. But Hick says I'm thinking about the TAX SALE for properties that have delinquent taxes for three years. That's how he bought some of his "investment" properties. Like his strip of land...
Anyhoo... Hick says they can set a minimum for such a sale. But usually, they're just stuck with the highest bid that's offered. That Lady told Hick on Tuesday evening that a man had offered her less than half of what Hick was willing to pay. Of course Hick told Loan Officer about that. Tipping his hand that he knew EXACTLY how much was owed on the loan. Not sure if Hick was playing "Big Spender," or subtly pointing out that no one else would be crazy enough to pay off that loan for such a junky house.
Anyhoo... it's a prospect on the horizon. It could be a playground for Hick over the winter, or at least light a fire under him to finish Bargain House and get it on the market.
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