Buying During Redemption Period
I'm located in Kansas which has a Redemption Period, my question is has anyone tried to deal with the Morgage Company after the Sheriffs Sales with any success? Does anyone know if the Morgage Company usually holds the property untill the Redemption Period is over are do they go ahead and turn it over to a realitor?
I'm not 100% sure on this so don't take what I say for fact. I live in Illinois which also has a redemption period. I do not believe they hold the property until the redemption period is over before having the property go to auction. Again I am really not sure on this. I should really find out. I'd call one of the bank's REO department and ask.
Ryan J. Schnabel
I think they just have to disclose that their is a redemption period.
How about a twist of buying the redemption period rights from the owner and then using them to get the property.
My suggestion is merely to by an assignment of the rights of the property owner. The consideration might be a future payment plan or a participation. I do not think cash is in order as the moment appears to be passed. This is a rear guard action. Should work. I have bought a quit claim deed and the function is the same.
Quietly Lucius