Posted by PRESTON on March 29, 2002 at 13:18:09:
At the sheriff auction the funds are due in full in cash, cashiers check or certified funds.
Preston
Foreclosure Question??? - Posted by Rob
Posted by Rob on March 02, 2002 at 02:19:43:
I am a new investor and have a lot of people on my buyers list that deal with rehabbing and foreclosures. I was going to buy the list of properties under foreclosure in my neighborhood and hopefully be able to tie one or more of them up and sell to these buyers. What I dont get is if you cant come to terms with the owners and have to go to the acutions, is the only way to get these properties from the auctions with cash on the spot? Is there a way to get it from the auction and write up a contract that gives you enough time to sell it to another buyer without giving any money out of yor pocket, other than maybe some earnest fee? Sorry, if this is a dumb question, I know very little about the process of foreclosure properties. If anyone can give me any feedback or opinions that would be greatly appreciated. Thanks in advance.
-Rob