Rental Property Investor · Columbus, OH · Member since 2018 · 23 posts · 5 votes
Hey investors, I am thinking about biding on my first REO house. The auction ends in two weeks, however the redemption period doesn't expire until 02/15/18. If I win the bid and close on the house in the month of September, does the past owner still get until February to make their decision?
Verify your facts; banks won’t typically sell properties during a redemption period. While some states may have say a 12 month redemption period, it is lessened or eliminated if the property was vacant at the time of the foreclosure auction.