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MN redemption questions

Posted by Barry-MN on June 02, 2003 at 4:57 PM

Ward/others,
Obviously the goal is to try and pick up properties before the sale or redemption period. (6 months here in MN.)
The only people that seem to bid on the properties here in MN are the banks. I see many great properties slip by that have great equity. How hard is it to find money for a property that you cannot take possession of for 6 months? What are the pros/cons of buying these properties at the Sheriffs sale w/the 6 month redemption? Is it worth buying and then trying to to give a few bucks to the occupants to move on? (Thus taking over the property in 5 weeks instead of 6 months because the property will be 'vacant'?) or?
Any thoughts and comments will be appreciated.
Barry in MN.


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