Auction at 5 Little Bear Island, Tuftonboro, NH

[Rusty]

How much should someone bid on this nice open concept log cabin?

This is info about it:

Foreclosure
AUCTION
Island Camp on Winnipesaukee
5 Little Bear Island
Tuftonboro, New Hampshire
Friday, May 10th at 11:00 a.m.

This property totals .7± acres on Little Bear Island with 100’± of lake frontage. The open concept log cabin was built in 2002± and includes 3 bedrooms. The cabin includes over 1,040± sq.ft. of living space a loft, farmer’s porch and boat dock.
Assessed Value: $348,700. Tax Map 11, Lot 1, Sub Lot 4.

Inspection: One hour prior to auction, if permitted.

Terms: $10,000.00 deposit in cash, certified check or bank check at time and place of sale; balance due at closing within 45 days. Subject to all terms of sale. Proxy Bidding Available.

Directions: Property must be accessed by boat. Transportation will be available to registered bidders from Harilla Landing located at 484 Old Long Island Road, Moultonborough, NH. The boat will be leaving at 10:00 a.m., one hour prior to auction.

http://www.paulmcinnis.com/auctions/...tuftonboro-nh/

[chaseisland]

About $1 more than the second place bid.

[Just Sold]

The value of a property is what you are willing to pay. That does not guaranty you will be the highest bidder though.

[codeman671]

Of course the reserve is not listed. Has anyone requested a packet?

[Rusty]

Originally Posted by codeman671

Of course the reserve is not listed. Has anyone requested a packet?

Do they need to put a "reserve" amount.

Reading the MORTGAGEE'S NOTICE OF FORECLOSURE SALE it states that "At the conclusion of the auction of the premises, the highest bidder’s deposit, if such high bidder’s bid is accepted by the Bank, shall immediately be paid to the Bank and shall be held by the Bank subject to these Terms of Sale."

It looks like a lender confirmation auction, where the lender either accepts or rejects the highest bidder.

[secondcurve]

Originally Posted by Rusty

Do they need to put a "reserve" amount.

Reading the MORTGAGEE'S NOTICE OF FORECLOSURE SALE it states that "At the conclusion of the auction of the premises, the highest bidder’s deposit, if such high bidder’s bid is accepted by the Bank, shall immediately be paid to the Bank and shall be held by the Bank subject to these Terms of Sale."

It looks like a lender confirmation auction, where the lender either accepts or rejects the highest bidder.

Correct and they do it based upon a reserve (a minimum acceptable offer) that the Bank establishes prior to the auction.

[codeman671]

I actually didn't notice that was a link on my iPhone when I saw it. Having been to auctions on the lake before, although they were held by JSJ, a minimum bid or reserve is typically available.

One could probably pull the records and look for a foreclosure deed to see what price the bank took it back for or the original mortgage and guess based on the amount borrowed vs the time it was mortgaged prior to foreclosure.

[Billy Bob]

The bank can also open the bidding or place the first bid at the reserve price

[Rusty]

Originally Posted by codeman671

I actually didn't notice that was a link on my iPhone when I saw it. Having been to auctions on the lake before, although they were held by JSJ, a minimum bid or reserve is typically available.

One could probably pull the records and look for a foreclosure deed to see what price the bank took it back for or the original mortgage and guess based on the amount borrowed vs the time it was mortgaged prior to foreclosure.

Wouldn't it be nice if Carroll County got out of the dark ages and put their Registry of Deeds on line. They are the only county in NH that doesn't have it.

[dt5150]

nice place!

[Little Bear]

Originally Posted by Rusty

Wouldn't it be nice if Carroll County got out of the dark ages and put their Registry of Deeds on line. They are the only county in NH that doesn't have it.

It's the stupidest thing I have ever heard of. I called them once and asked them why they are not on-line. Their answer was "Because of security reasons". Huh? They should be forced by the State to put their records on-line.

[Just Sold]

Originally Posted by Little Bear

It's the stupidest thing I have ever heard of. I called them once and asked them why they are not on-line. Their answer was "Because of security reasons". Huh? They should be forced by the State to put their records on-line.

I think it is an attitude by the Registrar of Deeds to protect those individuals and other entities in the County who do not want the public to have easy access to information about their real estate transactions. ie Privacy.

[tis]

It's very easy to get all that information you mentioned, Just Sold. I am sure your probably get the Registry Review. After all, RE transactions, liens, bankruptcy, foreclosure, etc. are all public record.

[Just Sold]

All Registry of Deeds information is available to the public at the Registry but in Carroll County it is not available on line like it is in the other counties in the state. NHDEEDS.com is a valuable database source for everyone in the state except you will not find Carroll County data there.

Public on line access is a great time saver for anyone needing to find information on any real estate transaction. Yes, you can pay for the Registry Review which is a "trade publicaton" for professionals and it contains statistics, and information on other subjects helpful to those who need it but it is not a cheap publication.

[tis]

I don't disagree with you. I recently had to go over to the registry to look up something and it would have been so much nicer if the stuff was online. But I am just saying if someone is really interested, they can buy the Registry. Yes, it is expensive. I buy it to be cautious of people who might be in trouble that our business is dealing with.

[wifi]

Originally Posted by Just Sold

I think it is an attitude by the Registrar of Deeds to protect those individuals and other entities in the County who do not want the public to have easy access to information about their real estate transactions. ie Privacy.

That is exactly what my bank said, and they said they had problem in other counties with the open access, its "public information" stuff, with forgeries and identity theft. They are glad Carroll is offline.

Originally Posted by tis

It's very easy to get all that information you mentioned, ....

If its so easy, then there should be no complaints, eh ?



Actually, if I was house hunting, I'd look for towns and counties that weren't online. I've had enough with (obviously lazy) nosey & jealous neighbors & co-workers over the years, all due to online access.

[Sue Doe-Nym]

Have any of you actually talked to the Register of Deeds and learned exactly why she doesn't put information online? She has some very good reasons that protect Carroll County property owners from fraud.

Before bashing why don't you take the time to learn the facts?

[Rusty]

Originally Posted by Sue Doe-Nym

Have any of you actually talked to the Register of Deeds and learned exactly why she doesn't put information online? She has some very good reasons that protect Carroll County property owners from fraud.

Before bashing why don't you take the time to learn the facts?

I'm not really interested in just one person's view. What should be done is to consider all the views of the inhabitants of Carroll county. I know more people who want it on-line rather then not on-line.

[Billy Bob]

What she is saying is total BS . Probably 90 % of the country is on line , its all public records and it makes the system transparent and easier to verify we are all being treated the same.
The real reason probably has more to do with job preservation then anything else

[wifi]

Originally Posted by Rusty

...I know more people who want it on-line rather then not on-line.

If you want yours online, I'm fine with that, I don't want mine online, thank you.

[codeman671]

Having it online is nice for research purposes. I use it often when looking into purchasing a property. Being able to see the history such as purchase price, mortgaged value, foreclosures, liens, etc is helpful.

On the other hand, I am not crazy about having my information readily available to others.

Is Carroll County behind the times or just looking out for people? Everyone will have their own opinion on that. All other counties are online, so it does seem odd.

[wifi]

Check out their website

As it states:

* Our records are not available on-line for security reasons.


Codeman puts it much more elegantly than I do

[BroadHopper]

is a cool app that I downloaded onto my phone. It not only has current info on property it also, if available, past info such as previus sales etc.

Check it out!

[Just Sold]

If you look at any other County Registry of Deeds in NH they all have a Property Fraud Alert Statement. But any of the Registry of Deeds Records are public and open to anyone to see. That is just the way it is...Nothing to Hide.

In Carroll County they are behind the times, yes, but there has to be more to it than meets the eye after all this time with the increase in apps, internet use etc. JMHO

This is from Belknap County.

Preventing mortgage fraud and identity theft is a top priority of your Belknap County Registry of Deeds office. The Register's office has made a conscious effort to be on the look out for documents that may involve deed or mortgage related fraud. For your protection, consider subscribing to our "FREE" Property Fraud Alert website for real-time monitoring and notification of any potential fraudulent activity of interest to you. Your security does matter!!!!
BE INFORMED! - BE PROTECTED!!
Unfortunately, it's all too easy for a criminal to record a fraudulent deed making it appear as if they now own your home.
Once they've done this, they can use your name as collateral on a mortgage or even attempt to sell your home to an unsuspecting buyer.
Don't let this happen to you!
To sign up for this free service, go to: http://www.propertyfraudalert.com/belknapnh/Disclaimer.aspx and check the box that states "I agree to the terms stated above" to begin registration. The service will notify you if a document is recorded with your name and you will be given the option to be notified by "Email" or by "Phone". If you have any questions regarding this or are having trouble signing up, please call 1-800-728-3858 for assistance.


Also on the Belknap Registry Home Page is this:

CONSUMER ALERT

Attorney General Michael A. Delaney issued the following consumer alert to all New Hampshire property owners:

Consumers should be aware of mailings being sent to property owners throughout the state from companies using the names:

SECURED DOCUMENT SERVICES, and

DEED RETRIEVAL SERVICES

The mailings appear to be official government notices recommending, "that all United States [or New Hampshire] homeowners obtain a copy of their current grant deed" and further indicate that, for a fee of $86.00 or $87.00, these companies will provide the property owner with a copy of their Grant Deed and a Property Profile.
The Attorney General advises that these companies are providing a service of questionable value and the information advertised in these solicitations can be obtained from any of the State’s Registers of Deeds for significantly less money. With deeds so easily and inexpensively attainable, the existence of these companies depends greatly on the public’s unfamiliarity with the county registers of deeds offices.
Attorney General Delaney stated, “The real lesson for an educated consumer is to know what you are paying for, which in the case of these deed retrieval companies is virtually nothing more than a homeowner can acquire for far less cost. Don’t be fooled by a company whose name sounds ‘official’ or by an ‘official’ looking notice designed to confuse and mislead you. If you would like a copy of your deed, you can obtain it yourself for nominal cost and time, or contact your county's Register of Deeds, who would be glad to assist you.“
Under New Hampshire’s Consumer Protection Act, N.H. RSA 358-A, it is unlawful for any person to use any unfair or deceptive act or practice in the conduct of any trade or commerce within this state. Anyone who feels they have been the victim of any unfair or deceptive act should call the Attorney General’s Consumer Protection Bureau hotline at
(603) 271-3641 or 1-888-468-4454. For more information on consumer fraud you can also visit the Bureau’s
website at www.doj.nh.gov/consumer.