BEST ANSWER
Holly:
Most counties have this info online now. For example, you can find sherriff sale homes in Franklin county at:
http://www.sheriff.franklin.oh.us/
Click on civil real estate sales in the left column of the home page.
You can also find foreclosures and short sales that have already been purchased by the lender through a local agent. These homes are easier to purchase and are far less risky than purchasing at the courthouse foreclosure auctions.
When purchasing a home at the sheriff sale, you do not see the interior (in most cases) and a large non refundable deposit is given the day of auction if you are the winning bidder. There are no inspection or financing contingencies and you are responsible for paying all liens against the property. (taxes, mortgages and home equity lines, home owner association dues, mechanics liens for work performed, water and sewer charges, etc.)
When you purchase an REO or HUD home through a local realtor, you have clear title to the property, an inspection and financing contingency and the deposit is typically $500-$1,000 instead of a minimum of 10%. You also have the chance to actually see the home before purchasing it.
The majority of buyers at the courthouse auctions are the lenders so they can buy back their properties after foreclosure. These properties eventually come back onto the market as an REO or HUD so your condo could become available again in the very near future..
Best of luck with your search.
Fri May 29 2009, 20:38
Fair Housing and Equal Opportunity