Sheriff's Sales In Texas

It's a similar situation in California. A buyer can sometimes pick up a home at a trustee sale with 30% equity though, unlike buying REO's, which generally yield no more than 8-10%. Risks are much less with the REO's though...as you point out.

How long after the sherriff's sale can you redeem a homestead normally? In Minnnesota, it is 6 months

Hi Trey... these represent great opportunities, but as you so correctly pointy out, buyers need to understand the risks and unique circumstances involved.

Trey,

There is a Texas statute that may make Texas Sheriff's deeds much more valuable than most people know. After the redemption period. The trouble is there are no decisions, no case law to establish precedent.

Protect your investment get a preliminary title report and if you buy get title insurance.

Bill

thanks for these "top ten" sheriff sale items. Let us know about the schoolhouse deed.

Trey:  A good list of things to be aware of for those who want to try their hand at foreclosure properties. 

Howdy there Trey

You sure did a mighty fine job of expolainen, about Texas Sheriff's sales. Its like this could be a real good glass to offer to folks.

Trey I am agreement with this. Folks really need to investigate thoroughly before they commit.

Trey,

You have my curiosity up now.  I am going to google Schoolhouse Deed.

Trey, Good Post! An example of your comment on liens that may not go away is, say, a $3,000 to $5,000 wrecking lien for a house, then the city continues to mow the now vacant lot, at $100 or $200 per mowing, multiple times per year, for years. All this can be on a vacant lot sold at a tax sale for sometimes as little as, say, less than a couple thousand dollars or so. A buyer really does need to do the homework! Some Cities do sometimes wipe out some of these, in areas established as a revitalization area, where a new home is built on the same lot, with minimum value, within a certain timeframe. Also, some title companies in our area will not issue a title policy until after a six months, a year, or two, depending on insurance carriers, thus creating a holding period until feasible to develop.