Quote:
Originally Posted by bktonjtosc
Do have any idea on where I can find more information regarding the real estate auctions? I have always been tempted to purchase a fixer upper for resale. Do prospective buyers need to have cash on hand/
Thanks
|
This is the website for the Master in Equity that handles the foreclosure sales. It has the phone numbers and other info.
Master in Equity
You can click on each of the Foreclosure notices and there is an address for the property. I checked out some of the locations on google maps. One is in River Hills and several are in nice neighborhoods.
From the notice:
The successful bidder, other than the Plaintiff, will deposit with the Master In Equity, at conclusion of the bidding, five percent (5%) of his bid, in cash or equivalent, as evidence of good faith, same to be applied to the purchase price in case of compliance, but to be forfeited and applied first to costs and then to the Plaintiff's debt in the case of non-compliance. Should the last and highest bidder fail to comply with the other terms of the bid within thirty (30) days, then the Master In Equity may re-sell the property on the same terms and conditions on some subsequent Sales Day (at the risk of the said highest bidder).