Need Help Understanding This One
Hello all,
I got the deeds on 6 houses from an investor in town who is in foreclosure. The bank refused to pospone the sales but said they would continue to consider the short sale packages I submitted. They didn't get any bids at the sale on the houses so the bank bid in a figure to protect their position in the redemption period. Now we are after the sales and sheriffs certificates have been filed on 4 of the houses. Today I spoke with the owner to udate him on where we stand. The bank is still considering the offers. The owner says not to worry the houses have been sold. Shocking news to me since he had already 'sold' them to me when he signed the deeds over. After hanging up I quickly went to the recorders office and filed the deeds. It doesn't appear anyone else has gotten a deed on file before me.
Questions,
Does the sheriff's certificate impact the deeds that I filed in anyway or did I simply buy his rights in the redemption period?
If no one else filed before me, am I correct in believing that the houses can't be sold unless someone comes through me for a deed until the end of the redemption period?
Thanks,
Gary
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