Rental Property Investor · Atlanta, GA · Member since 2015 · 44 posts · 7 votes
New investor to the market. I would like to understand how the foreclosure auctions work in Kansas City / Missouri. The number of days of the month? Either only or physical location? etc
Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
6y
@Andy Wu it varies by county. Like most things in life, "it depends." I focus on Platte and Clay county. We still do auctions on the courthouse steps. Other counties do them online. The amount to hold varies depending on if you have bought at the auction before, who is doing the auction, etc.... I hope that helps.
Investor · Saint Charles, MO · Member since 2016 · 13 posts · 2 votes
5y
Missouri is a judicial and non-judicial foreclosure state. It is the same for all counties in the state. The majority of sales are non-judicial, which just means it doesn't have to go through the courts. All sales are required to be posted in the local paper. In the paper they are required to post the legal description of the property, book/page of deed of trust, date/time of sale, and location of the sale. Prior to buying anything you need to pull title (hire someone or do it yourself). Second mortgages are foreclosed on all the time and have no impact on the first. The best resource to obtain the list of sales in KC is www.moforeclosure.com.