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So if you’re an investor
looking at distressed property options what are the factors to keep in mind
during the bidding process this is Dave that titlesearch.com
there are several different types of distressed property auctions
one is a private type sale like auction.com or some other
private entity that handles sales for different types
of sellers then there are public auction sources like a share sale or
lender sailor tax sale
those are usually handled through some government agency in many cases on the
courthouse steps
of the county recorder's office as you're looking at these auctions
consider the priority of debts saying which priority the debt that's being
auctioned off is is it a second mortgage
a first mortgages at a tax sale remember that many tax sales
our only auctioning off one year's worth of tax delinquencies
are the remaining items after that item
has been auctioned off and cleared through the sale process what are the
payment terms have that option in many cases
the payment for the entire purchase price is due within 48 hours
by certified check to make sure you have your funding set up in advance before
that sale and understand what those payment terms are
last but not least understand the deed type: you'll be receiving is it a sheriff’s
deed
is it a quit claim deed is it a warranty deed to you know what vesting
you'll be receiving once you purchase their property have more questions about
distressed sales or auction properties you can reach us at our website
a titlesearch.com