Property Q&A in Detroit>Question Details

carlottastew…, Home Buyer in Detroit, MI

I love the house so what steps do i take to purchase it?

Asked by carlottastewart, Detroit, MI Sat Jan 28, 2012

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Hi there,
First you have to wait until it comes on the market. It will be going into foreclosure as stated by Realty Trac but there is a 6 month redempton period in Michigan. I would speak to a Realtor in your area and have them send you updates on it. After the redempton period is up it will go to a sheriffs sale and be sold to probably a bank unless somone else bids on it there. With that said anyone purchasing a property at a sheriffs sale must do research on the property to make sure there aren't any outstanding liens on it. We just saw a question from someone who bought a condo at a SS and didn't research the propertyand now has a 20K note to pay on it.
A home is a big purchase so make sure you get your questions answered.

Good luck
0 votes Thank Flag Link Sun Jan 29, 2012
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