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Updated about 1 year ago on . Most recent reply

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Lawanna Crile
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6
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Alabama Foreclosure Redemption Right - Can I sell the property I bought at foreclosur

Lawanna Crile
Posted

I bought a single family home on the courthouse steps. Did my title search, tax search. The deceased owner's Daughter signed a Right of Redemption Waiver. Now I that I've put MORE $$ money in the property my realtor tells me his Title Agent (Attorney) say's the right of redemption stands regardless of the signed waiver I have.

Am I stuck holding this property a year until the redemption period expires? Honestly, who wants to buy a house knowing the right to redeem might possibly be exercised? 

Thanks, June

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Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Dauphin Island, AL
514
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609
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Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Dauphin Island, AL
Replied

Its definetaly a gamble unless you have personal info on the owners, deceased, no heirs, in prison, etc.  For specifics, contact @Denise Evans, the Alabama expert on these matters.

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MGM Property Pros LLC

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