Sherrif's Sales - Who Do I Make An Offer To?
In my area (Cleveland) there is a website that publishes all the 'Sherrif's Sales' that are scheduled for the next couple of months. I notice that the attorneys are listed also. Is that the person I should contact if I am interested in making an offer or should I approach the seller or perhaps the mortgage holder (bank) to make an offer. Or can I even make an offer once a sale is pending. Any help would be appreciated. Maybe I should have posted in the newbie forum, but I thought this forum might be most helpful.
Thanks.
you can call any of the parties that you have listed and they can inform you who is in control of the prop for sell....kenmax
The owner is still the owner until the Sheriff's Sale takes place.
If you make a deal with the owner, you will still have to deal with the leinholder who is taking the ppty to Sheriff's Sale. You may get him to discount for cash now, instead of possibly getting the property or the Owner getting him into a legal battle.
Would it be safe to assume that since all local investors have access to that same Sale list, if there is a good deal to be made, it will like be made prior to the sale and if a property actually makes it to the courthouse steps, it's likely a loser?
You need to contact the property owner. Tell them who you are and what you do. Get them to sign an authorization form which will allow you to contact the lending institution on their behalf and discuss the details of the loan. Then if the numbers work for you to make a profit, work the deal with property owner.
Would it be safe to assume that since all local investors have access to that same Sale list, if there is a good deal to be made, it will like be made prior to the sale and if a property actually makes it to the courthouse steps, it's likely a loser?
Yes! It is safest to imagine all the worst has happened or will happen. However if you do look into it, bet you find all are waiting for the sale.
Talk to the owner, maybe you can help solve his problem, maybe not. Talk to the leinholder, at the least you can buy him out for what he is owed. Maybe gat a discount......
In either case you will know more than those just waiting for the sale.
supposedly do to the new version of the fair debt collection act, the trustee (attorney) can not talk to you.
Atlest here they are being anal about that.