Purchasing a right of redemption

[Brandy Scott]

I have a client who has a property in Oregon that will be going to auction very soon.  He has been getting calls from investors who are planning to bid on the home during the auction, and would like to pay him not to try and redeem the house within the redemption period.  Is this a scam or do investors in that area do this often?

Thanks for your help!!

[Mike Nuss]

@Brandy Scott this is common in Portland. There are a handful of investment companies in town actively bidding at the auction. They protect their investment by purchasing redemption rights prior to the auction. This also gives them leverage against other buyers looking to bid on the same property. I'm happy to answer more questions if you have any. Feel free to call, email or PM.