Read all the other reviews and they will tell all!
On December 20,2017 Auction.com is holding it' 4th or 5th auction for 356 Cypress Drive Mastic Beach NY. No problem . So far every auction ended with Reserve not met. Even with Auction.com bidding for the seller. Here is where it gets interesting. If you are unlucky enough to win you will have several problems. The house was condemned by the Mastic Beach code enforcement . By the time the issues were resolved you had a mold problem. Yes the pipes burst. The house was in foreclosure for 9 years.So you know how it was taken care of.
There are several renters in the building now and we all know what's going to happen when they are evicted. The bank offered them a lot of money to move but the offer was a joke so everyone is still there.
So now here is the interesting part. Go to the New York ecourts Supreme court and look up Rob Metel and you will see that he has a motion on the calendar in April 2018.So they will be able to stay in the house for at least until then. You will then have to evict and that will take several months. So why is this interesting? Because Auction.com knew all about this. The new owner will be waiting at least 7 months to get in. By that time you had better have a lot of money to beg the current renters not to destroy the home or have even more money for a full rehab.
After you buy it you will need to deal with the town. Lots of issues that are still open.
Want to get out of the sale? The 95 page document favors the seller so you are screwed.
Are all the homes ;like this situation? No but this is a bad deal at just about any price.
Pay the current homeowner $100 to let a home inspection company come in and look around. This will be the best investment you will ever make.
So why does every auction keep going down in price? I' honestly don't know. So far the high bidder was the 1st auction coming in at $105k.
Liens on the property- That's why lawyers charge $350 an hour so find out before you place a bid. FYI the Suffolk County Social Services has a $200,000 lien on the property. It is no where near that amount probably about $6,000 according to the owner, but again have your lawyer check out everything. I'm talking about getting a real estate lawyer not a slip and fall lawyer.
My gut feeling is that after a few more auctions it will end up back with HUD.
Oh, about the pipes that burst... the home is now almost all electric so you will go broke heating it in the winter.