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Updated almost 12 years ago on . Most recent reply

User Stats

288
Posts
120
Votes
Robert Taylor
  • Broker, Investor, Property Restorer
  • Fox Point, WI
120
Votes |
288
Posts

New to commercial RE matters, trying to find info on an auction for a foreclosed commercial building

Robert Taylor
  • Broker, Investor, Property Restorer
  • Fox Point, WI
Posted

I've been in the residential RE business for over 10 years now, but I've not had experience in the commercial realm. My brother and I are interested in a commercial building here in Milwaukee that we know is being foreclosed on. My brother heard through the grapevine that it will be auctioned off sometime within the next week, but we haven't been able to find any info on where or when the auction will be held. I've bought numerous residential properties through the county sheriff's auction, where they'll occasionally have a commercial property go through, but this building isn't scheduled to go through the sheriff's auction anytime soon and we know that it is being auctioned off within the next week.

My question is,where would you look to find out where and when this auction will be? The only idea I'd have would be to contact the current owner, who may or may not be very excited to discuss the auction where he's going to officially lose his building, but the current owner is actually someone we know, not real well but more like a friend of a friend and I just don't feel comfortable approaching him about this building he's about to lose.

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