Detroit Real Estate

I had a Northville home buyer send me a big long email of Northville foreclosure listings.  The issue was that the homes on the list weren't any that I was emailing him.  He thought I wasn't emailing hime all the Northville foreclosuresthat were available.  So he went to a website like Realty Trac that listed homes that were just foreclosed on by the bank.  My client wanted me to check them out for him.

Unfortunately these homes are not for sale.  And these foreclosed homes may never be available for him to buy because they may never come up for sale. In Metro Detroit what happens after a bank forecloses on a Northville home is that it usually goes to sheriff sale.  (Unless the homeowner works something out with the bank)  Then the bank either buys it back at sheriff sale or a third party buys it.  Then the current Northville homeowner has six months to redeem the home.  So all the homeowner has to do it come up with the sale price and the interest to get their home back.

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So the Northville home may never come up for sale.  The home owner may buy it back, a third party may own it and move into it, or rent it out.  So all of these foreclosure home listings that you see on websites are just being foreclosed on or that haven't gone to sheriff sale yet,..... won't be available for at least six to 12 months.

So my advice to any Northville home buyer is don't get wrapped up in Northville foreclosure listings that are not currently for sale. You can waste your time looking at homes and waiting for them to come to the market.  But you don't even know what kind of condition they will be in six months.  The current homeowner could strip the kitchen out, steal all the light fixtures, put holes in the walls.

So look at what is available and if you are still looking in 7 months that home may come on the market for you.  Then worry about it.

Russ Ravary your local Northville Realtor

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Northville real estate

My quote of the day is:

A kiss without a hug is like a flower without the fragrance.