Courthouse Foreclosure Sale..Opinion Please? - Posted by Pam

Posted by ~~Beachboy-GA on September 20, 2004 at 07:08:36:

I am thanking rural D- is th selling agent.If so, they are going to the steps and bid what is owed on the property,plus their collection fees, then they will back down.The next bid will be from whoever else shows up to bid on the house.Have you done your homework on it?
any taxes due?
Have you went by and looked at the house?
Is it roadside property, or does it have an easement to it?
is it a second mortgage or first?
being new, as others have said, these are usually some fast auctions and all cash is due that day at the sale.They will not wait for you to obtain a loan.They want their cash right there …Be careful… Real estate is not a get rich quick game and you have to work your way into it.hOWEVER there is more money in realestate than anything I have ever found.It is the only market you can reach up in the air and pull out cash…good luck.I have been buying and selling since 1984.I have had alot of fun , as Donald Trump says, Making the “ART OF THE DEAL”

Courthouse Foreclosure Sale…Opinion Please? - Posted by Pam

Posted by Pam on September 19, 2004 at 13:19:40:

There is a foreclosure sale advertised in the local paper. It states 'USDA, Rural Development has a security interest in the property.'Also stating a minimum bid of $22,700. We are new to RE investing and have never bought property at the courthouse sales. Mostly because of all the negative remarks and suggestions to steer away from these if you’re a newbie. Well, is it the desire of Rural D. to outbid and get it back and then list with a realtor? Would it be better to buy it that way? Please share your experience.