Ohio Sheriff Sale
I have some general questions for you sheriff sal veterans. First of all, which liens pass with the property through foreclosure and which ones get squashed? I know IRS federal liens,etc.. go with is everything squashed? Next, how is the appraisal and all that good stuff done if you can't get into the prop? Is there a problem getting title ins. and if so does this create a problem with the lender? I would appreciate a reply from someone who has purchsed a sheriff sale and generally how do you structure the transaction?
Thanks, Mike
Hey Mike,
I have been studying for some time now and this is what I found out. I am not 100% positive on the following but it is what I read and heard from researching. I heard that individual judgements/liens from companies stay on the property...however, you can negotiate with them to release them for a small fee by simply saying the property changed hands. They can still go after the amount from the previous owner. I also was told that IRS liens will come off of the property by simply asking and proving that their is a new owner. I hope some of this info helps you in your investing. If you have any other questions, info, etc. please let me know. I am a new investor from the Cleveland area and always looking for new contacts. Thanks,
Mike