Is It Wrong To Buy A Foreclosed Home?
The Wake County Revenue Department dockets foreclosure judgments with the court system for unpaid property taxes on real estate. Daily auctions are held on foreclosed properties in front of the county courthouse in Corona, Calif. North Carolina does not sell tax lien certificates; therefore, payment of the tax lien prior to sale at public auction will not transfer ownership of the property.
Dan Immergluck, a professor of city and regional planning at the Georgia Institute of Technology’s College of Design, estimated in an unpublished research paper that a firm like Harbour could generate an annual return of at least 28 percent based on the way it prices homes.
When you are searching for Real Estate in Columbus and Central Ohio in many cases Clifford Realtors is the Real Estate Company that lists these homes for Freddie Mac. Foreclosures that are pending sale confirmation or ratification or pending expiration of a redemption period may not be listed until after those events have occurred.
In its investigation, The Times found that Harbour had bought around 7,000 single-family homes in bulk sales from Fannie, the large government-controlled mortgage finance firm. There’s a fair chance you’ll end up exceeding your budget, especially for foreclosed homes.
Properties that do not sell at a tax sale become part of the resale inventory offered by the Travis County Tax Office and are for sale at any time. Some loans serviced by PNC Bank or PNC Mortgage for private investors require that foreclosed property be transferred to the private investor on or after foreclosure.