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Registered
Join Date: Dec 2003
Location: Upper Peninsula, Michigan
Posts: 814
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Purchasing Land Via A 'Public Outcry' At Your County Courthouse
Does anyone have any experience about buying property that has been foreclosed and is available by 'public outcry' at the steps of their county courthouse? My wife and I have been searching for some property that has year-round running water (large enough for fishing / relaxing) for approximately three years. We are totally turned off by the lack of ethics that we have seen demonstrated by the so called professionals... realtors. Ideally, we would like to buy directly from an individual but this weekend we saw listing in the 'Public Notices' section of our local paper. Has anyone ever done this?
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Daryl G. 1981 911 SC - sold 06/29/12 |
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03-12-2007, 05:54 AM
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Banned
Join Date: Mar 2005
Location: Travelers Rest, South Carolina
Posts: 8,795
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Re: Purchasing Land Via A 'Public Outcry' At Your County Courthouse
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03-12-2007, 06:44 AM
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Senior Member
Join Date: Jun 2000
Location: N. Phoenix AZ USA
Posts: 28,977
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Daryl,
Have a friend who has done this in the past and he usually comes away with some very good deals. Have thought about doing it myself a few years from now. Joe
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2021 Subaru Legacy, 2002 Dodge Ram 2500 Cummins (the workhorse), 1992 Jaguar XJ S-3 V-12 VDP (one of only 100 examples made), 1969 Jaguar XJ (been in the family since new), 1985 911 Targa backdated to 1973 RS specs with a 3.6 shoehorned in the back, 1959 Austin Healey Sprite (former SCCA H-Prod), 1995 BMW R1100RSL, 1971 & '72 BMW R75/5 "Toaster," Ural Tourist w/sidecar, 1949 Aeronca Sedan / QB |
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03-12-2007, 08:39 AM
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Dog-faced pony soldier
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You have to have CASH IN HAND if you want to do this (my boss looked into it). Most days it's a fools errand as 90% of the properties on the list are read off as being "in ongoing negotiations between the lienholder (bank) and owner". There are very few off of the lengthy list of foreclosures that actually go to public bid, but if you are lucky enough to come across one on the list for which you have the green stuff ON YOUR PERSON to cover, you can get a good deal.
Most banks won't finance this, obviously - since you have (usually) no idea what you're buying.
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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03-12-2007, 09:02 AM
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(the shotguns)
Join Date: Feb 2006
Location: Maryland
Posts: 22,300
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If you think you've seen a lack of ethics dealing with realtors just wait till you spend a few hours with an auctioneer!
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***************************************** Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again! I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions. |
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03-12-2007, 10:14 AM
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Monkey+Football
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That's funny.
Someone said "ethics" and "realtor" in the same sentence. Only thing funnier would be to supplant "realtor" with "lawyer".
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<Insert witty comment> 85 Targa Wong Chip Fabspeed M&K Bilsteins and a bunch of other stuff. |
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03-12-2007, 10:18 AM
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Dog-faced pony soldier
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Or "politician".
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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03-12-2007, 10:30 AM
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Non Compos Mentis
Join Date: May 2001
Location: Off the grid- Almost
Posts: 10,655
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There are deals to be had, but the homes sold do not always come with a clear title. You may find out that you bought a house, and a few extra liens against it.
You need a title report before bidding. |
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03-12-2007, 10:33 AM
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