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How do you search for property in foreclosure on via Sheriff's sale?
Posted on 12/13/23 at 2:41 pm
Posted on 12/13/23 at 2:41 pm
I'm a beginner.....so sorry for the dumb question.
I'm looking for agricultural or hunting property with revenue potential, and so far I don't like anything I see on an active listing - prices are too high or the revenue potential is too low (or both).
So I think I need to find alternative means of searching for property. Does anyone here scope out Sheriff's sales or foreclosures? If so - would you be willing to share any tips or tricks?
I'm looking for agricultural or hunting property with revenue potential, and so far I don't like anything I see on an active listing - prices are too high or the revenue potential is too low (or both).
So I think I need to find alternative means of searching for property. Does anyone here scope out Sheriff's sales or foreclosures? If so - would you be willing to share any tips or tricks?
Posted on 12/13/23 at 3:47 pm to goofball
It's usually done late August in Mississippi. The Sun Herald will run a section earlier in the summer with a list of tax auctions. Since it includes the legal descriptions you'll be able to quickly identify the large tracts of land.
Downside is the owner has to not pay for three years before you can claim the parcel. If they redeem during that window you get 18% annual interest as a nice consolation prize.
For bank foreclosures, every county is different. Sometimes it's in a local newspaper, others have it on the county website. Some have auctions on almost a daily basis, while others do once a month.
Downside is the owner has to not pay for three years before you can claim the parcel. If they redeem during that window you get 18% annual interest as a nice consolation prize.
For bank foreclosures, every county is different. Sometimes it's in a local newspaper, others have it on the county website. Some have auctions on almost a daily basis, while others do once a month.
This post was edited on 12/13/23 at 7:54 pm
Posted on 12/13/23 at 3:51 pm to goofball
Each sheriff should have a section on their site that details different sales.
Posted on 12/13/23 at 3:57 pm to Roy Curado
Caddo Parish Sheriff's Sales
Here is the link to the calendar for sales in Caddo Parish. Sales are usually every Wednesday, but I believe they still require in-person bidding. Toggle the the "show details" trigger for info about the appraised value if that was a requirement in the foreclosure suit. You can also find the suit no. for the foreclosure if you want to dig even deeper. You could also call the firm that filed the suit to find out more and potentially even make an offer for a short-sale.
ETA: I agree that every parish likely has their own way of doing this, just giving you an example I'm familiar with.
Here is the link to the calendar for sales in Caddo Parish. Sales are usually every Wednesday, but I believe they still require in-person bidding. Toggle the the "show details" trigger for info about the appraised value if that was a requirement in the foreclosure suit. You can also find the suit no. for the foreclosure if you want to dig even deeper. You could also call the firm that filed the suit to find out more and potentially even make an offer for a short-sale.
ETA: I agree that every parish likely has their own way of doing this, just giving you an example I'm familiar with.
This post was edited on 12/13/23 at 3:58 pm
Posted on 12/13/23 at 4:04 pm to bricksandstones
Would probably help to know where OP looking to buy. (It won't necessarily be his home location if he doesn't want to IRL himself.)
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