Re: Sheriff's sale purchase

[ Follow Ups ] [ Post Followup ] [ CREOnline Legal Forum ]

Posted by JT-IN on January 01, 2002 at 17:45:48:

In Reply to: Sheriff's sale purchase posted by Doc on December 30, 2001 at 13:15:22:

Doc:

Michigan has a 6 month "Right of Redemption", where the owner of the property can buy-back, by redeeming the property, for a period of 6 months following the sale. During this time you will have your funds tied up, but not have possession or use of the property. Be sure to factor this additional holding period and costs, into the overall costs for this investment.

You may want to contact a local Atty. who is VERY familiar with foreclosures, so that you get some good direction/advice on the foreclosure issue. One can "take it on the nose" with foreclosure investing, if not completely certain of ALL the rules and nuances.

JT-IN

Follow Ups:


Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:

[ Follow Ups ] [ Post Followup ] [ CREOnline Legal Forum ]

WWWBoard 2.0a and WWWAdmin 2.0a © 1997, All Rights Reserved.
Matt Wright and DBasics Software Company