Thursday Q & A - Your Maryland Real Estate Investing Questions Answered
Q: How do I go about purchasing a home at foreclosure auction?
A: So far we've talked about due diligence, what to do on the day of the auction, and the bidding process. So now, you've gone to the auction - and you've won! It's important to keep some things in mind:
- You now have an equitable interest in the property.
- Go to the property and find out - is it vacant or occupied?
- Get insurance as soon as possible. (Here's where having your TEAM in place comes in handy).
- Get started on the Title Work. (Hint: hire a Title Company)
- Start to think about what you're going to do with the property (sell, fix it up, rent it out)
- Keep an eye out for your notification of settlement (usually via phone and mail).
If you'd like more information about purchasing a home at foreclosure auction in Maryland, please feel free to contact me.
Clients always ask me: Are you on the web?
See for yourself.
Tim McIntyre, GRI, Ellicott City Realtor, Catonsville Realtor
Helping Clients Buy, Sell and Invest in
Howard County, Carroll County and Baltimore County
for more than 25 years.
tmcintyre@cbmove.com 410-480-3555
www.timsellshomes.com
