Realistic To Make Instant Equity???
We are being transferred to an unknown destination (will know in a few weeks).
We currently rent and want to buy a foreclosed property to get instant equity.
I have the sherriff lists in all the possible cities (example: cuyahoga county Ohio) and need to know the procedure I should follow. What we know:
1. We have $20, 000 in cash available for downpayment.
2. Our hope is that we can live in this property... but if not... then fix what is broken and put it up for sale and start all over again.
3. We have no intention of keeping property to rent.
4. I can go to a title company to get report on home for $50.00
Questions:
1. What other roadbocks will we encounter?
2. Is it realistic to turn a forclosure purchase around and put it up on the market?
3. Is the courthouse the only way to see if their is a lein on the property? will the title company take care of that?
4. What should we be prepared with come sherriff's sale day?
Thank you for your advise. Melissa
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