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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Redepmtion questions Posted by Phil on January 09, 2004 at 11:47 PM I live in Colorado and have just started to learn about foreclosures. It seems to me that the CO redemption rules make it so that buying at the auction is not advantageous. I have some questions. 1. If there is a large amount of equity, the owner or one of the junior lien holders will redeem. Is it practical to bid an amount such that a decent profit is possible, but high enough to deter the possible redeemers? 2. The winning bidder will want to have insurance on the property even thought they cannot take possesion or title. I believe this cost would be reimbursed in redemption. Is this correct? How hard is it to get insurance? 3. If you purchase the property from the owner during the redemption period, can you redeem the property yourself? 4. Someone I talked to mentioned buying notes. Tell me if I have the process correct. Buy a second DT at a discount, show up at the sale and bid enough to protect your investment, either take over the property or get redeemed for part or all of the face value of the note. Thanks, Phil Follow Ups: Re: Redepmtion questions Nick(Colorado) 12:44 AM, 01/17/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I live in Colorado and have just started to learn about foreclosures. It seems to me that the CO redemption rules : make it so that buying at the auction is not advantageous. : I have some questions. : 1. If there is a large amount of equity, the owner or one of the junior lien holders will redeem. : Is it practical to bid an amount such that a decent profit is possible, but high enough to deter the possible redeemers? : 2. The winning bidder will want to have insurance on the property even thought they cannot take possesion or title. I believe this cost would be reimbursed in redemption. Is this correct? How hard is it to get insurance? : 3. If you purchase the property from the owner during the redemption period, can you redeem the property yourself? : 4. Someone I talked to mentioned buying notes. Tell me if I have the process correct. Buy a second DT at a discount, show up at the sale and bid enough to protect your investment, either take over the property or get redeemed for part or all of the face value of the note. : Thanks, : Phil 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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