K_2
Jan 13, 2008, 07:28 PM
Was wondering if anyone on here has any experience with these types of transactions.
A friend and I have considered doing this and I have read a few things online.
Seems in this state, every county holds their sales the same day every year. I also read that you had to be a resident of the county you are buying in. However, I don't know how accurate the information was. I read in one place that you have to wait three years and in another I read that you have to wait one year if it is a first or second offering, only 90 days if it is a third offering.
There are a few websites where you can by kits pertaining to this topic, are they a waste of money and time?
Anyone with experience care to share their knowledge regarding the process of actually obtaining the land legally, like how to have it transferred over in your name? I have read that you must do a title search, notify the owner within 90 days of transferring it over, notifying anyone else who may have an interest in the property, etc.
Was really just wondering what to expect and what kind of cost would be involved apart from the price you pay at the actual auction.
Is this something that can be done without a lawyer?
After you are able to redeem, do you have a regular deed to it just like you had bought it off the market from the former owner?
After the redeemption period, as long as you did everything required(notifying everyone) does anyone have the right to redeem?
Any advice or experiences you'd be willing to share would be greatly appreciated.
EDIT: After posting this, I found a website for a county courthouse that explained the procedure. For the most part, I believe I have figured it out. However, I'd still love to hear from anyone who has experience with these and any advice you can offer from prior transactions. All tips, advice, suggestions, comments are appreciated.
A friend and I have considered doing this and I have read a few things online.
Seems in this state, every county holds their sales the same day every year. I also read that you had to be a resident of the county you are buying in. However, I don't know how accurate the information was. I read in one place that you have to wait three years and in another I read that you have to wait one year if it is a first or second offering, only 90 days if it is a third offering.
There are a few websites where you can by kits pertaining to this topic, are they a waste of money and time?
Anyone with experience care to share their knowledge regarding the process of actually obtaining the land legally, like how to have it transferred over in your name? I have read that you must do a title search, notify the owner within 90 days of transferring it over, notifying anyone else who may have an interest in the property, etc.
Was really just wondering what to expect and what kind of cost would be involved apart from the price you pay at the actual auction.
Is this something that can be done without a lawyer?
After you are able to redeem, do you have a regular deed to it just like you had bought it off the market from the former owner?
After the redeemption period, as long as you did everything required(notifying everyone) does anyone have the right to redeem?
Any advice or experiences you'd be willing to share would be greatly appreciated.
EDIT: After posting this, I found a website for a county courthouse that explained the procedure. For the most part, I believe I have figured it out. However, I'd still love to hear from anyone who has experience with these and any advice you can offer from prior transactions. All tips, advice, suggestions, comments are appreciated.