Posted by JT-IN on January 02, 2002 at 20:29:48:
In Reply to: Re: Sheriff's sale purchase posted by Doc on January 02, 2002 at 15:03:25:
Doc:
Yes, that sucks having your funds tied up, while someone is living in "your" house, providing they don't redeem. Most times, if they could/ or were able to redeem, they would have paid it off before the sale. There are exceptions, though...
Yes, it is lawful for you to contact the owners, but keep in mind, they won't likely invite you in for a cup of coffee and a danish...and if they do, don't eat or drink anything, due to possible aresnic laced products; kidding!
Yes, if they redeem the property, you should get your $$ back in relatively short order, but this varies from area to area. Some states require that the owner/redeeming party, pay interest to the bidder/buyer, for the period of time you are invested.
Good luck on this one, and you will surely earn some knowledge here, if nothing else.
Just the way that I view things...
JT-IN
- Re: Sheriff's sale purchase Jason Cowan 22:30:35 01/06/02 (0)