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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] follow up question? Posted by Barry on June 03, 2003 at 7:17 PM In Reply to: Merge the Certificate of Sale and the Right of Redemption posted by Ward-CA- on June 02, 2003 at 6:03 PM Ward, Thanks for the quick answer, now for the follow up question. What do you offer the ex-owner in exchange for the ROR? A few thousand bucks? Is there such thing as a ROR form that they can sign? Do I make my own? Or? (Just want to make sure that it sticks for legal reasons.) Thanks for the help. -Barry : : Ward/others, : : Obviously the goal is to try and pick up properties before the sale or redemption period. (6 months here in MN.) : : The only people that seem to bid on the properties here in MN are the banks. I see many great properties slip by that have great equity. How hard is it to find money for a property that you cannot take possession of for 6 months? What are the pros/cons of buying these properties at the Sheriffs sale w/the 6 month redemption? Is it worth buying and then trying to to give a few bucks to the occupants to move on? (Thus taking over the property in 5 weeks instead of 6 months because the property will be 'vacant'?) or? : : Any thoughts and comments will be appreciated. : : Barry in MN. : =================== : Barry, : The name of the game in an ROR (Right of Redemption) state, such as MN, is to buy the ROR from the ex-owner immediately after the sale. : Then take that evidence and your Certificate of Sale to the Sheriff and ask for the Sheriff's Deed to the property now since the ROR is non-executable because you now hold in your name both the ROR and the Certificate of Sale. : Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : Thanks for the quick answer, now for the follow up question. : What do you offer the ex-owner in exchange for the ROR? A few thousand bucks? Is there such thing as a ROR form that they can sign? Do I make my own? Or? (Just want to make sure that it sticks for legal reasons.) : Thanks for the help. : -Barry : : : : Ward/others, : : : Obviously the goal is to try and pick up properties before the sale or redemption period. (6 months here in MN.) : : : The only people that seem to bid on the properties here in MN are the banks. I see many great properties slip by that have great equity. How hard is it to find money for a property that you cannot take possession of for 6 months? What are the pros/cons of buying these properties at the Sheriffs sale w/the 6 month redemption? Is it worth buying and then trying to to give a few bucks to the occupants to move on? (Thus taking over the property in 5 weeks instead of 6 months because the property will be 'vacant'?) or? : : : Any thoughts and comments will be appreciated. : : : Barry in MN. : : =================== : : Barry, : : The name of the game in an ROR (Right of Redemption) state, such as MN, is to buy the ROR from the ex-owner immediately after the sale. : : Then take that evidence and your Certificate of Sale to the Sheriff and ask for the Sheriff's Deed to the property now since the ROR is non-executable because you now hold in your name both the ROR and the Certificate of Sale. : : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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