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Old 05-23-2018, 06:31 PM
 
199 posts, read 71,851 times
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My friend is interested in a house near us (neighbors said they where moving but havenít been able to get more info) when I google it is says it was sold by the sherrif of the county and buyer is Danitch LLC. I googled the LLC company but canít find anything except them being buyers for other homes sold by a sherrif. Is this a 3rd party that bought in an auction? Or is this company going to auction the home? This particular home is in good shape so it doesnít need to be flipped. Her realtor doesnít seem to know much. How would she be able to purchase this home?
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Old 05-23-2018, 07:35 PM
 
8,376 posts, read 7,365,888 times
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This could very well be a tax auction. If so in most states, they will have a year to redeem by paying the bid, plus interest (high interest) on what the buyer paid. There are many people that buy these homes, and let them sit for a year until the owner paying off the bid plus interest. A lot of times it will be a trust or LLC that wants to get a high rate of interest on their money. If the home is not redeemed, then they own the home outright and can sell it, or whatever. They win either way.
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Old 05-23-2018, 08:53 PM
 
73 posts, read 33,459 times
Reputation: 145
I think this is a duplicate thread.
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