Triwest, Realtors
"A Christian Real Estate Company"

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CONSULTATIONS & EXPERT ADVICE




Consultations & Expert Advice
 

TriWest, Realtors believes in the value of local knowledge and relevant solutions.  We offer expert advice on both the selling process and your legal obligations.

Pro-activity, quality advice, and transparency along with sophisticated knowledge and analyis of local, regional, and national markets and trends are the hallmarks of TriWest's service delivery 

Our client relationships are based on a partnership of trust and an in-depth understanding of the client's personal and business needs.  These qualities are an integral part of TriWest's business philosophy.

 


One Nation Under God


 


     FREE CONSULTATION -- CALL 325.692.6000 ASK FOR RON


Need A List of Foreclosed Properties? Let Us Help


 

 

WE HAVE ACCESS TO THE LATEST LIST OF FORECLOSED PROPERTIES


Buying a foreclosed property might be the ideal solution if you are looking to purchase a home for the first time or simply as an investment.  You can find such foreclosed homes advertised by banks in their branches as well as in the local newspapers.  But the best place to search for such properties would be to look for a foreclosed homes listing on the internet.  This can be a time consuming process and requires extensive searching every day and there is usually a small fee required.  Not knowing what to look for can be rather dangerous and this is where we come in! 

We have access to many foreclosures in the Abilene area and would like to assist you in landing the perfect property to meet your needs.  We can help you analyze the investment, from figuring rate of returns, cash-on-cash returns and help determine if it meets any other requirements. 

There are alot of things you should know about foreclosures and this is where we come in.   Our searching tools are more advanced and we spend hours daily learning what not to do! 

Please feel out the form below of you are interested in purchasing a foreclosed property. Simply tell us what you are looking for in a few words and we will immediately start searching for you.  We will respond via email back to you within 24 hours.

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THE PROCESS


 


TEXAS FORECLOSURE LAWS
YOU MIGHT WANT TO KNOW ABOUT

 

In Texas, you typically do not need to involve a court or judge to conduct a foreclosure .  In otherwords, Texas is considered a non-judicial foreclosure state.  When you loan money to an individual to purchase a real estate or owner financed the sale of your real estate, you should have obtained a promissry note from the buyer as well as a deed of trust or sometimes referred to as a mortgage.  The promissory note outlines the terms of payment and deed of trust gives the lender a lien.  If your loan was documented properly and you are not getting paid in accordance with the promissory note, the deed of trust trustee or substitute trustee can sell the property to repay the note.  This is what is known as the foreclosure process. 

Unless the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of the sale, the non-judicial foreclosure is typically carried out as follows:

  • Before proceeding with the foreclosure, Texas laws state that the lender must mail the borrower a notice of default informing the borrower that he/she has twenty (20 days to pay the delinquent payment or the debt will be declared due and foreclosure proceedings will begin.
  • After the (20) day cure period has expired, a Notice of Acceleration will be mailed to the borrower via certified letter and accompanid by a notice of foreclosure.
  • At least (21) days before the foreclosure sale, a foreclosure notice must be: (a) filed with the county clerk; (b) mailed to the borrower at their last known address; and (c) posted at the Taylor County Courthouse.
  • The foreclosure sale must take place on the first Tuesday of any month, even if said Tuesday falls on a legal holiday, but only after the proper preliminary notices have been given.  The sale is typically conduted on the courthouse steps by auction to the highest bidder for cash.  Anyone can bid even the lender, who bids by cancelling the balance due on the note, or some part of it.
  • The trustee will transfer the property to the highest bidder via a trustee's deed.  The highest bidder/new owner will own property free and clear of any junior liens, but subject to any superior leins such as ad valorem real property taxes and liens recorded prior to the date of the deed of trust. 

 

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