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Updated about 8 years ago on . Most recent reply

User Stats

24
Posts
6
Votes
James Beam
  • Investor
  • Louisville, KY
6
Votes |
24
Posts

Question about the Commissioner Sale

James Beam
  • Investor
  • Louisville, KY
Posted

HI Everyone!

I have attended a couple of sales in the past (2-3 years ago) to observe and found it very interesting.  I noticed that In January of this year, they changed some of the rules and I had some questions if anyone knows...  They now require a 10% payment immediately that can be paid by check (I believe) and must have a purchaser's bond for 90% + interest of the remaining bid.   They say you must come down at least a day and advance to show the proof of the surety bond.... Does anyone know what I am actually supposed to bring down there to get the purchaser's bond and able to bid on a property(s)?  

The language is unclear to me and I was hoping someone may have done it before...  I have both cash for the 90% as well as equity in properties as well...

Thanks

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