Foreclosures in Sandwich MA - 2016
Foreclosures in Sandwich MA
I often receive inquiries about foreclosures on Cape Cod. Unfortunately for investors, there aren't as many as one might think, because property is usually able to sell before it forecloses. Even as a short sale, property can usually be sold before it gets foreclosed on.
In the town of Sandwich this month, from October 1, 2016 and October 20, 2016 there have been seven properties that had an Order of Notice recorded. The order of notice is the first recorded step in the foreclosure process. This is the formal public notice that a borrower has not kept the payments current and that the lender is planning to foreclose.
Once this Order of Notice is recorded, there are other steps that the lender needs to take correctly before the foreclosure can take place. Up until the recording, only the borrower and the lender know the true status of the loan. Upon the recording of the order of notice, the public is now informed that this property is going to go through the foreclosure process.
For this time period - October 1, 2016 and October 20, 2016 - the five properties in the recorded land section of the Barnstable Registry of Deeds for the town of Sandwich, MA, are 152 Old County Road, 9 Shore Drive, 1 Jones Road, 9 Wintergreen Lane, and 16 Andersen Avenue. The original mortgages can be found in the Barnstable County Registry of Deeds. Be careful to check for assignments of those mortgages, and to make sure that the filer of the Order of Notice is the correct owner of the mortgage being foreclosed on.
The Land Court section of the Barnstable Registry of Deeds for the town of Sandwich, MA has two more order of notices recorded in this time frame. Those are at 15 Blackthorn Path, and 15 Goose Point Lane. The original mortgages can be found in the Barnstable County Registry of Deeds. Be careful to check for assignments of those mortgages, and to make sure that the filer of the Order of Notice is the correct owner of the mortgage being foreclosed on. All the assignments would need to be confirmed to make sure who has the right to foreclose.
Over the decades that I have been selling real estate on Cape Cod, I have been able to help buyers buy foreclosures. However, the process is tedious, and the transaction process is usually not for the inexperienced investor. If this is a first time purchase, using an experienced agent can help the buyer understand the process and learn what is normal in the process and what is unusual.
The foreclosure laws in MA changed this year. Banks were given a little more leeway in the foreclosure process requirements in MA this year. While the lenders will be able to act sooner and with less restrictive requirements from the Massachusetts government, it is still a process with multiple steps that must be carefully followed. Once completed, the foreclosing entity may market the property. Finding foreclosures early in the process can help an investor plan projects and stay busy. Identifying the correct properties which are in trouble is the first step in that planning process.
Properties that show up in MLS being identified as foreclosures have already traveled through the foreclosure process. Once listed, they are again for sale. Buying a foreclosed property must also be carefully researched, so that the process can be verified for correctness and validity of title. A good attorney will be able to see if everything is correct. And, title insurance is a good idea at the closing, for any buyer of foreclosures.
If you need an agent to help you find or buy foreclosures, I'd be glad to work for you.
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / firstname.lastname@example.org
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker