Foreclosure in 44256>Question Details

Markandmissyk, Home Buyer in 44253

Is it best to consult an attorney before purchasing a home through a sheriff's sale? Also, are there special agents or attorneys who deal with

Asked by Markandmissyk, 44253 Sun Jan 22, 2012

these?

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The Medina County Sheriff's website and Medina County Auditor's website do offer a wealth of information, but my advice to you would be to not limit yourself and think you will find a dream home for a bargain via the sheriff's sale route. There are also many more pitfalls purchasing a sheriff's sale that most are not aware of. My personal opinion is unless you have a specific property and prior knowledge of a home and you are looking for a good value and have time, work with a Realtor with some patience and you will find a greater value via a traditional REO (bank owned...after the sheriff's sale).

It is definitely the time to become fully educated before purchasing via this route. Good Luck!
1 vote Thank Flag Link Mon Jan 23, 2012
If you are concerned but want a deal on a home a good website to view would be to go through http://www.homepath.com. These homes are owned by Fannie Mae. You would get the chance to view/go through the property top to bottom, if you wish. If you'd like financing, especially primary residence financing, you could put little down, have no private mortgage insurance and have no requirement of appraisal nor home inspection (you can get these if you'd like for piece of mind but you would not be required). If you're interested in learning more about mortgage financing options please reach out to me. I'd love the opportunity to work with you. Warm Regards, Kimberly Lawson Mortgage Loan Originator T/F: 888-659-3848 kimberly.lawson@fpfmail.com http://kimlawsonloanofficer.com NMLS:5601 OH.LO.004495.000 First Priority Financial Inc "Where Open Minds Close More Home Loans" 748 N. Court Street, Suite 201 Medina, OH 44256 NMLS:3257 Licensed by Ohio Division of Financial Institutions, MB.850147.001
0 votes Thank Flag Link Tue Feb 5, 2013
I would sugest talking to a real estate atttorney before buying at sheriff sale for a reality check. You can find a real estate attorney at any title agency. You also may want to attend a couple of sales before your target property goes up just to see what they are like. You may also want to find out the judgement amount on the property not just the sheriffs value (it is not a true appraisal).
0 votes Thank Flag Link Mon Jan 23, 2012
Yes, it is indeed a good idea to consult an attorney before purchasing even if you are planning to get it from a sheriffs sale. Buying a new home requires you to understand some laws governing the acquisition of property titles and the taxation system that may go with it. A little money that you pay to an attorney maybe worth it for you to save some headache when your transaction come up unclean and make you go with the process over and over again, or worst bought a defective and complicated property that you should not buy in the first place.
0 votes Thank Flag Link Sun Jan 22, 2012
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