One of the first things when it comes to foreclosures in St Tammany Parish is "Legally the property is private property until the Sheriff sells it auction." However, if you elect to go the route of only paying 10% the day of the sale and pay the remaining 90% within 30 days. You do not have legal right to access the property during the 30 day period either. As well, you as the purchaser, do not have the right to start eviction proceedings against the occupants until you pay the remaining 90%.
To back track a little, prior to the Sheriff's auction, since the properties are considered private property, you as a potential buyer, are not allowed access to the properties at this time either. Legally you are trespassing. Some of these homes are going to be listed with real estate companies or listed as for sale by owner. In these cases you can set appointment times to view these homes, though you may not get the chance to thoroughly inspect the property, you will get a chance to view the interior, to see what remodeling work will need to be performed on this property, including, but not limited to electrical, plumbing, roof, well, septic, as well the minor issues of flooring and paint. Look for termites. If you have a friend in the construction field, bring them with you. Have a pair of binoculars to inspect the roof and stay standing on the ground. Bring a camera, make sure to take pictures of damage, bring a notebook as well. Make sure you have a good flashlight on you, as well a measuring tape and a small toolbox with at least a pair of screwdrivers, for the little extras when needed.
This is just a start, but the name of the game here is CYA. Yours is the one that is on the line when you purchase a foreclosure. Just make sure you cover your bets. Inspections is only the beginning. Title and Appraisal can come into play significantly as well. Make no mistake, there are no givebacks when it comes to foreclosure sales. Perform your due diligent research.
If you have any questions, feel free to contact me.
Thank You
Marc Pellettiere
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