All Forum Posts by: Alan Faitel

The banks are now selling their foreclosure homes during the redemption period. This may be good for the banks but it will causes a lot of problems selling houses in redemption to the general public. Below are some questions about redemption, can you help with the below.

1. What is a redemption period?

2.When is redemption over? Is it 6 months from the day of the sheriff sale or is it the day the sheriff deed was recorded?

3.The day after sheriff’s sale who is the owner? Is the bank the owner or is the one being foreclosed on still the owner.

4.How can a six month redemption period be shortened? If the old owner moves out is the is the redemption period automatically shortened? Can you offer cash for keys?.

5.If you buy the home from a bank during the redemption and the house is vacant can you take possession? Can you rehab the home? Can you resell the home?

6.What is your certificate of abandonment, and how do you get one?

7.If you buy a home from a bank in redemption, and the bank gives you a quit claim deed, is that good enough?

8. If you buy a house from a bank during redemption, can you put a mortgage against the house or lien the house with a hard money mortgage? Is there a way to borrow money during redemption?

9.If you buy a house from a bank during redemption can you get insurance? What if it’s occupied? Or rental if it’s vacant?

10. Is there a time window or are there other limitations for getting a writ of abandonment?

11. If the bank has started a writ of abandonment but has not recorded it by the time of our purchase is it transferable? Can we start the process over if the bank has already started the process?

12. If the property appears vacant can we take possession the day of the end of the redemption period? If it is occupied can we send a 30 day notice to start the eviction process before the end of the redemption period or do we have to wait? 

13 can i do the certificate of abandonment, does some one have a lawyer i can use?

Just a quick kitchen cabinet tip, you don't have to price out the whole kitchen between cabinets companies, just take the price of a base 24 Versus the base 24 of their cabinets to get a general idea what the pricing is.

I have a contractor pushing the Home Depot unfinished oak cabinets. Do you have these cabinets in your area? The price is $900 and the regular price is $1400, but he said he could get a big discount? I have only seen these cabinets with bad paint jobs on them.

Have you used them?

Is it worth the price and labor?

Is there a magic way to paint them so that they look good?

#164 

You can put a video of the rental on youtube, we have had people rent a place just from the video.

You can show the rental to many people at the same time.   All ways give them the application and the rules up front. Tell them what the fees are and deposit up front. Dont get in the car until you confirm that they are going to show up.

You can get a management co to do all this ****.

You can do what you love, you are just going to need partners. Find some one to find the deals, and a money guy, maybe a office person, now you have a team. Try to get everyone on commission.  If you can work your way into higher priced homes you can make a good living. the lower priced homes you are going to need a quantity of homes.

Is this for a rental or Flip?

will it have a  private inspection? 

by the city? 

appraiser? 

FHA?

rental inspection?

I’m looking for a writer that has real estate experience.

I need help with blogs and advertising and websites.

I don’t know what to pay, that is open. 

Genesee city, just out side of flint, but on a well 

still for sale