Residential Real Estate Broker · Grand Blanc, MI · Member since 2008 · 885 posts · 316 votes
Has anyone had any luck with successfully tracking the underbids at Sheriff Sale? Doing so manually is cumbersome. And, local title companies haven't been too helpful with this either.
My goal is to solicit those owners who are in redemption yet have "equity" to sell the house and walk away with some cash in their pocket.
Flipper/Rehabber · Louisville, KY · Member since 2008 · 1k+ posts · 1k+ votes
14y
My guess is that by the time they have gone through the long foreclosure process they have gotten SO MANY postcards and phone calls from investors, vultures and Realtors, there is a good reason they have not listed for sale.
I think it would be very few and far between who have enough equity that you could still get a good deal.
But good luck.
Saginaw, MI · Member since 2012 · 1 post · 0 votes
14y
I have had a little bit of success, however, in the big scheme, in our area, the underbidding is less than 5% of actual properties. And even with the underbid, it still hardly ever reaches market value. All it takes is one good property though, to make it all worthwhile.