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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Foreclosure help in MN? Posted by Barry on February 26, 2002 at 5:57 AM New to the foreclosure game....Looking for some help. Most of MN 'sheriff sales' have 6 or 12 month redemptions which seems to keep most investor bidders away. (myself included). The only exception to this rule are prperties that have already been abandoned and then the redemption period is only 5 weeks. A few questions I have are: 1. Is it possible to get into any of these homes to see what the condition is before sale? (I have asked and been told 'no', unless I have permission from the mortgage holder.) If this is true, do I need to make an educated guess on what the propert is worth from looking at the outside?? (estimated repairs, etc.) 2. Who does the mortgage company sell the homes to after the 6 month redemption period? Can they be contacted? Do they sell the home for what they bid at the sheriffs sale 6 months earlier(plus any other fees accumulated)? Or do they only sell to known realty companies, etc.? I have more questions, but lets just start with these. Thank you in advance for any help you can give. Follow Ups: Post-sale REO arena in a mortgage state. Ward-CA- 6:50 AM, 02/26/02 (5) Right of redemption? Barry 8:52 AM, 02/26/02 (4) More clarification on working with redemption rights. Ward-CA- 8:41 AM, 02/27/02 (3) How to buy the 'right to redeem' Barry 11:17 AM, 02/27/02 (2) Re: How to buy the 'right to redeem' Jon 7:24 AM, 04/14/02 (0) You'd negotiate what you think is fair... Ward-CA- 9:00 PM, 02/27/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : New to the foreclosure game....Looking for some help. : Most of MN 'sheriff sales' have 6 or 12 month redemptions which seems to keep most investor bidders away. (myself included). : The only exception to this rule are prperties that have already been abandoned and then the redemption period is only 5 weeks. : A few questions I have are: : 1. Is it possible to get into any of these homes to see what the condition is before sale? (I have asked and been told 'no', unless I have permission from the mortgage holder.) : If this is true, do I need to make an educated guess on what the propert is worth from looking at the outside?? (estimated repairs, etc.) : 2. Who does the mortgage company sell the homes to after the 6 month redemption period? Can they be contacted? Do they sell the home for what they bid at the sheriffs sale 6 months earlier(plus any other fees accumulated)? Or do they only sell to known realty companies, etc.? : I have more questions, but lets just start with these. : Thank you in advance for any help you can give. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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