So, we all want a good deal - right? Especially when it comes to finding your next home. I am blessed with the ability and insight on how to get the great deal. There is good and bad news associated with that though. The good news is that you could save tens of thousands of dollars on your next home. The bad news....these opportunities do not come around often and you have to be skilled to be able to recognize the opportunities (they are not highlighted or flagged).
Sheriff Sales:
So, for pure "blogging" and getting to the point purposes... first of all - you have to be liquid and flush with cash on the date of the sale (if the home costs 100K - you need 100k - not a mortgage or note from Mom). You can/will buy your home from the Sheriff himself. The sales are on Thursdays in Hamilton County and may vary per county (call the sheriff's office and ask). You have to know your target: there may be 20 or more homes for sale at each sheriff sale - only 5 may be in the area you want to buy and three of those five may need too much work for you to stomach.
There is no commission paid to REALTORS. That is good and bad. Good..It saves the public lots of money. Bad...what REALTOR likes to work for free. Honestly, it took me over 15 hours to prep for last weeks sale (drive/walk through by each home, comp each home, research titlework at courthouse). Without the prep how can I honestly be prepared to bid on any property. I walked in with 100K in my pocket and left with 100K in my pocket. Even though I did not buy anything - it was a victory. Better to buy smart than get stuck. So, I would recommend that you hire a real estate professional to work for you on an hourly/commission basis to prep for the sale. Then you are "locked and loaded" to buy. The following link will provide you with previous sale data and upcoming properties that are going on "the block" soon! Click Here for current Sheriff Sale info!
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