Hidden Auction Items
Hi All,
I live in Lake County Ohio. I have access to the County recorders office, sheriff's office for listings, clerk of courts for filings, etc on line.
Are there any other pitfalls or traps that I should be looking for in my foreclosure research prior to bidding on the CH steps in addition to this? Outside of property condition of course.
I don't mind doing the homework and would humbly appreciate any advice.
Thank You!!
Jim
Just that Ohio has a 2/3 value bid on property requirement at sherriff sales. It is harder to find bargains at auctions in Northeast Ohio.
Good day to all:
I've been to a couple of Auctions in Cuyahoga County and there have not been any deals yet. The banks bid them up to what they are owed so the PMI will kick in which reduces their loss. And yes, the min. bid is 2/3 of a driveby appraisal, which in my humble opinion and way out of line. Couple with that, you can't get in the houses so you don't know if you have broken pipes in the wall until it's too late.
Good Luck and make $$$
Tom
Thanks for the input!
I know about the 2/3 requirement plus it can take up to 120 days to take posession (ouch). I didn't know if this was an Ohio policy or just Lake County.
At least I have grown up in the area and have a real good sense about property values here. Even at 2/3, I think I can find some values. I am patient!
We will see! Thanks again for the input guys.
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