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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Merge the Certificate of Sale and the Right of Redemption Posted by Ward-CA- on June 02, 2003 at 6:03 PM In Reply to: 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. =================== Barry, The name of the game in an ROR (Right of Redemption) state, such as MN, is to buy the ROR from the ex-owner immediately after the sale. Then take that evidence and your Certificate of Sale to the Sheriff and ask for the Sheriff's Deed to the property now since the ROR is non-executable because you now hold in your name both the ROR and the Certificate of Sale. Hope this helps. Follow Ups: follow up question? Barry 7:17 PM, 06/03/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : 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. : =================== : Barry, : The name of the game in an ROR (Right of Redemption) state, such as MN, is to buy the ROR from the ex-owner immediately after the sale. : Then take that evidence and your Certificate of Sale to the Sheriff and ask for the Sheriff's Deed to the property now since the ROR is non-executable because you now hold in your name both the ROR and the Certificate of Sale. : Hope this helps. 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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