
Quoting
JimBham
My question involves real estate located in the State of: Alabama
I have an offer in on a house that is being sold as a foreclosure. The guy I'm buying it from bought it at a foreclosure auction, and finished the renovations the previous owner started. Because he didn't do all the renovations, he's selling it as is. The right of redemption runs out Nov. 19th. It seems odd to me that he put in a good amount of money in renovations, but is selling it as a foreclosure. The only reason we can come up with is that he has to sell it as a foreclosure until right of redemption runs out. Does that sound like a logical reason?
I am planning on getting extended title coverage to protect me incase there are outstanding liens from the foreclosure.