The current home I live and work out of is on the West End of Greenville, South Carolina:

The current Greenville County Master-in-Equity, Judge Charles B. Simmons Jr., provides an excellent "Primer for Mortgage Foreclosure Sales" on the Greenville County website. Judge Simmons highlights 14 points that are important if you decide to embark upon this path during the recent economic climate.

As an attorney and real estate investor, I felt confident in the process because I had bought foreclosure sales before from banks but not "on the courthouse steps" so to speak. I made several mistakes and got lucky. I do not trust that luck will get me through again so I share these tips:

  1. Always have title work done/checked on your prospective foreclosure house!– The house I bought was being foreclosed upon the "Smith" family-seriously.
  2. Physically go see the house. Don’t trust internet services or court records. I visited my prospective house but never got inside. I knew I was going to "gut" the inside to my liking but wanted the "bones" to be good. On another home I went to go bid on, I went by the morning of the auction and there was no house on the lot, just a lot. Imagine how high I would have bid for what I thought was a house and a lot.
  3. Factor in more time and/or money if it is inhabited. I paid for the first month’s rent and moved the inhabitants of my foreclosure house out because I had just sold my house. I was on a tight time frame with repairs and knew how slow the eviction process could be if disputed or fought.  "Honey attracts more flies than vinegar." 
  4. Have financing and closing attorney already arranged. You only have a short turn around time to complete the closing on the house after you put your deposit down the day of the sale. Likewise, you can’t move in or make repairs until you have title, ie close.
  5. This is not a "new" thing. Some people make their living off of buying homes in foreclosure sales. You may very well find a great deal but don’t think you will be the only one there.

Anytime there is an opportunity for reward there is a risk. Foreclosure sales are the poster children for inherent risks. Do your homework and you can capitalize.  Have fun and enjoy your new experience.

If you would like for me to forward you the recent article entitled, "Prudent Bidding at a Foreclosure Sale," by Clifford P. Parson and C. Joseph Roof that was published in the January 2009 edition of the South Carolina Lawyer, please email me (trey@trammell-law.com) or post a comment request.

A side note: I do civil personal injury law, not real estate law. Outside of paying lots of money for a "Real Estate" class in law school and visiting the records room of a Georgia courthouse, I have no real estate law experience. 

 

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Photo of Trey Mills Trey Mills

Floyd S. “Trey” Mills III knows that suffering a personal injury through no fault of your own can be a nightmare for the victim and his or her family

Mr. Mills was born on April 24, 1978.  His parents, Floyd S. “Butch” Mills,

Floyd S. “Trey” Mills III knows that suffering a personal injury through no fault of your own can be a nightmare for the victim and his or her family

Mr. Mills was born on April 24, 1978.  His parents, Floyd S. “Butch” Mills, Jr. and Patricia Yarborough Mills, were originally from Newberry, South Carolina, and soon after the birth of Mr. Mills, his parents brought him back to be raised in the same county they grew up in.

Education

Mr. Mills attended Newberry Academy from grades K-3, Gallman Elementary 4th grade, Rikard Elementary 5-6th grade, Mid-Carolina Middle School 7-8th grades, Mid-Carolina High School from 9-12th grades, Clemson University, and Walter F. George School of Law at Mercer University.

Health Crisis

While Mr. Mills was a junior in high school he was chosen by his school to be a representative to Boys State.  This was a great honor and would have been an even better experience except, while at Boys State, Mr. Mills became unusually ill with blackouts, night sweats, and back pain.  Fortunately for Mr. Mills, his mother was an ER nurse at Lexington Medical Center, but unfortunately, for Mr. Mills that did not change his diagnosis of Acute Lymphocytic Leukemia.  Along with his diagnosis, Mr. Mills received a prognosis of two weeks.

Obviously, Mr. Mills has been blessed with his second chance at life and those who have been wronged by health care insurance companies and other types of insurance companies can feel confident in knowing that Mr. Mills can not only empathize with them but fight fervently for their side.  Mr. Mills’ cancer experience and his mother’s arduous yet unsuccessful battle against lung cancer were very trying times.  However, those real-world battles and experiences were nothing compared to the administrative and billing wars he had to encounter with Blue Cross Blue Shield Health Insurance. It seems BCBS would deny any charge over $1,000 without rational reasoning therefore prompting Mr. Mills to go to law school and carry the torch for those that were too ill to fight for themselves while the school yard bully beat them down.

College

Mr. Mills went on to Clemson University where he was very active in student activities along with academic accomplishments.  Mr. Mills was invited to join Calhoun Honor’s College, Sigma Pi fraternity, Golden Key National Honor Society, Student Government, IPTAY Student Advisory Board, and Tiger Brotherhood. Mr. Mills also worked as a student employee with IPTAY Scholarship Fund under the direction of Bert Henderson, formerly the Associate Athletic Director of Planned Giving at Clemson University.

Early Life

Mr. Mills was unsure of where his hard work and life experiences would best provide an adequate return to the outpouring of kindness he received during his cancer experience. Having received many blessings from the American Red Cross, Mr. Mills went on to be an Apheresis Donor Recruiter under the supervision of Barry Pollard at the American Red Cross Blood Donor Services in Columbia, SC after graduating Clemson University.

Running from his true calling, Mr. Mills fled to Guadalajara, Jalisco, Mexico to Teach English as a Foreign Language (TEFL).  Having spent a semester of college in Madrid, Spain, Mr. Mills thought he should be assisting foreign countries. Mr. Mills was certified by the Vancouver Language Centre in Guadalajara for his TEFL training.  Mr. Mills was in Guadalajara only a few months when September 11, 2001 occurred and helped him focus on his life priorities.

Law School

Mr. Mills went on to law school at Mercer University and clerked each summer trying to determine how he could best serve those less fortunate.  The corporate law firms never truly provided him with that personal feeling of assisting the common person in need.  It wasn’t until Mr. Mills became the first law clerk of the South Carolina Trial Lawyers Association under the supervision of Linda Franklin and lobbyist Michael Gunn that he realized where his education, life experience, drive, and hard work could truly benefit those who have been personally and directly affected by the negligence of another.  Mr. Mills wanted to be a coveted and much needed plaintiff’s trial attorney.  More importantly Mr. Mills realized the power of the faceless insurance companies, misinformed legislative members, and the true power of money and lobbyist in dictating laws.

What’s the one service you pay for all your life but you are actually penalized if you ever have to use it? Insurance.

Trammell & Mills

Mr. Ernie Trammell gave Mr. Mills his big break at leveling the playing field against the faceless and heartless insurance companies.  Mr. Mills works tirelessly every day in an effort to bring justice to those who have been wronged.  Mr. Mills has worked on both sides of the law and has been through some harrowing life experiences.  Mr. Mills has been tested and tried by many of the more traumatic events that life has to offer and now provides his services to the public.

Who would you rather have on your side? Someone whose resolve has been tested and tried? Or someone who has intertwined their morality and greed in such a way that they can’t tell one from the other?

Why haven’t you hired Mr. Mills to be your attorney yet?

Would you listen to the devil on how to get to Heaven? Then why listen to insurance adjusters?