Somewhere in the county information is recorded on the property. This is where the last mortgage will be recorded as well as the last owner. So if it's in Faribault, Rice County WILL have information recorded as either torrance or abstract. Probably a bank or mtg company that is holding back foreclosures or has been bought out and are just way behind on foreclosures.
The other possibility is an owner who is in another location and just keeps paying the bills but doesn't do anything with the property.... more
I don't have anything, but I will say that I have gotten a couple buyers recently who originally thought they could only do a contract for deed. Rural is always tough for CD's, but craigslist and honestly yard signs are probably your best bet. Many sellers going FSBO may do a contract for deed too.
If you ever have any questions don't hesitate to email me!
It is somewhat difficult to approach people in a foreclosure situation, It is true that people can sell during the six month redemption period, they may not wish to. It is somewhat intrusive and you could cause some difficulties for yourself and not make any friends. People in foreclosure are usually under some stress and may display anger toward someone who approaches them. While your thinking may be that this possibility would help them, in their distress they may interpret it as wanting to take advantage of them and their situation. If the seller has listed the property, your realtor can keep you up to date. If I can be of further help, let me know. I am a Certified Short Sale, Foreclosure Resource person. I would be happy to answer any questions. Liz, 612-986-4105... more
Is this property on leased land or in a coop? Most banks wil lnot lend on leased land. You might try a credit union if you have one at work. Where is the property located? Some smaller bank may lend 50%. Most people take out an equity line on their homestead. Good luck.... more