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The building was taken into foreclosure by Wells Fargo on May 11, 2016. [7] Building ownership passed to CW Capital Asset Management, a loan servicing company. An inspection in November 2017 by the Portland Fire Department found 19 fire-safety violations. [12] The building was sold at auction for $9.3 million in October 2018 to TT Maine Venture ...
Court auction is an auction which takes place at a public location designated by the court. If a property owner fails to pay the mortgage, the mortgage holder can foreclose on that property. If the owner is unable to make sufficient payments, the property can be sold at auction. The time and place of the auction is published in official records ...
Labeled as Portrait of a Girl, the piece sold for $1.4 million in an auction. "On house calls, we often go in blind, not knowing what we'll find," Veilleux told the Associated Press .
A penny auction is a collective action taken during the auction of a foreclosed property to force the sale of the property at a low price, with the intent of then returning the property to its previous owner.
Foreclosure investment refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property.. In real estate, foreclosure is the termination of the equity of redemption of a mortgagor or the grantee in the property covered by the mortgage.
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