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foreclosure

Started by Rent_or_Buy
about 14 years ago
Posts: 165
Member since: Feb 2009
Discussion about
how do i find manhattan foreclosure auctions? There is one tmrw i think . . .
Response by NWT
about 14 years ago
Posts: 6643
Member since: Sep 2008

The required ads are usually in the New York Law Journal, and probably elsewhere too.

The people who follow them as a business would know, but no reason for them to broadcast their procedures.

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Response by Rent_or_Buy
about 14 years ago
Posts: 165
Member since: Feb 2009

thanks - im on my coop board but apt in my building isnt listed -
what seems to be the case if you buy into a coop is that the coop can reject you but you still need to buy the apt - the effect of which is your own shares but dont have a lease -

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Response by FreebirdNYC
about 14 years ago
Posts: 337
Member since: Jun 2007

You are on your board but can't write a post that is readable?

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Response by NWT
about 14 years ago
Posts: 6643
Member since: Sep 2008

I think he means this caveat in the auction notices:

"Failure of the successful bidder to obtain coop
board approval shall not relieve them of their
obligations under the terms of sale herein."

You can see notices at http://www.newyorklawjournal.com/nylawyer/search_notices.jsp.

Some of them say board approval isn't required. I don't know what happens if it is but you don't get it. You'd be out your deposit, for starters, I guess.

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