I live in Carrollton ohio and there are several homes that are being sold at the months end as Sheriff's Sales. My question is: is it possible to purchase or make an offer on these homes prior to the day of sale? If so can anyone tell me how to go about doing this? Thanks in advance for your advice and assistance!!
2007-08-01 08:50:06 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If you can locate the owner of record title and make a deal with them, yes.
Be aware that your doing so does NOT stop the sale, and you either satisfy the lien that it is being sold for before the sale occurs, or they will auction off the property anyway, and there's nothing you can do about it. You will be purchasing subject to the sale order, so you need to clear that up as part of the transaction.
You cannot go to the Sheriff to purchase beforehand, as he only has the power to convey at the sale, he does not have the power to convey before then.
Attempt this without an attorney at great peril.
2007-08-01 09:12:09 · answer #1 · answered by open4one 7 · 0⤊ 0⤋
You can make offers on homes in the process of foreclosure. Since the properties are still in the names of the current non-paying owners, you would have to negotiate with the current owner and the mortgage company, if there is more owed on the property than you are willing to pay.
Unless you offer close to what is owed on the property, the lender will undoubtedly let it go to the sheriff sale, and probably buy the property back in the lender's own name for future disposition.
2007-08-01 08:56:02 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
Delays, delays, delays oftentimes take 5-8 months to get to ultimate Many on no account close want broker to agree, then you truly want their lender to conform to sale value & words If there is extra effective than one lender, it somewhat is truly complicated, as 2d & third lenders have much less incentive to agree, on the grounds that they're probable to be wiped out
2016-10-13 09:36:28 · answer #3 · answered by ? 4 · 0⤊ 0⤋
No. You must wait for the sale. Thats why they're scheduled.
2007-08-01 09:25:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
probably not once they get to that point - call the sherriff's office and see if you can make an early offer - all they can say is no, show up at the auction
2007-08-01 08:54:20 · answer #5 · answered by Anonymous · 0⤊ 1⤋