Before The MIB's Sell The Home...
What is the best way to go about buying a home that has been listed for an up and coming sherrif's sale? Do I go directly to the home owner? Or do i try to contact the bank to resolve the matter. Also, in a local paper that i get on a daily basis, these properties are listed. On the listing, they always state that the property will sell for no less than 2/3's or 1/3 of the appraised value. It also states at the bottom of the listing that "$XX,XXX.XX cahsiers check only at time of sale". Am I able to go in and purchase the home for this amount before the sherrif's sale? Any and all help would be much appreciated. Thanks!!!!!
Kaz,
Check the store here for books on the topic. What you are asking is not something that can be covered in a forum discussion. It will take whole chapters for some of the questions.
I am not trying to be rude or even 'honest'. It is more like you will get hurt by piecing together answers. You need a basic understanding and framework so you know the process. Then this forum makes sense because the specific points discussed have a larger context.
An alternative that some suggest is to read all the back discussions. I believe this has more value after you have read something that is organized to educate you as to the time line and legal process. You need a context.
Consider the second question you asked as one example of what I mean.
You can not work with the bank to resolve it as the bank does not own the place. The homeowner has rights so the bank can not work a deal with you for the home. The bank could sell you their loan without the homeowner's permission (it is their loan) but that does not resolve the issue or give you the property.
John
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