We are going to focus on buying homes from Sheriff Auctions only for this article. Basically, the way a sheriff’s sale works is that a home is foreclosed on by a lender usually due to a lack of the homeowner being able to make the necessary mortgage payments. Once the home is foreclosed upon, the home goes to Sheriff’s Sale (this could happen quickly or it could take awhile to get to this point). At Sheriff’s Sale most lenders have a representative go in and bid on the homes to make sure that the homes do not sell for too cheap.They have a figure in mind that they know they must sell the home for and the bank representative will bid on the home up to that amount if necessary. If the bank buys the home back, they will usually hire a realty company to sell the home for them. If you are the successful winning bidder, then you have to pay 10% down immediately via cash or certified funds. You then have 7 days to pay the remaining balance off without incurring any interest. If you can not pay it off in 7 days, you have 30 days to pay the remaining balance off, with interest. If you are not able to pay the remaining balance off within 30 days, you can request an extension which is not always granted or be held in contempt of court, subject to fines and loss of your 10% earnest money deposit.Obtaining financing on a home sold via sheriff’s auction can often times be very difficult to do. Even if you are the winning bidder, you can not access the home until you have paid the remaining winning bid off in full. Most lenders are going to want a full interior/exterior appraisal done on the home and if you can not get into the home and the appraiser can not get into the home, then a full appraisal can to be done and that will be reason for immediate loan denial with most mortgage lenders. Many times foreclosed homes are run down and in need of serious repairs. Depending on what is wrong and how much the repair work is, this may be reason for immediate loan denial if the repair work can not be done before closing. Which, it obviously can not be done before closing since it is a bank owned home being sold at sheriffs sales and not through a traditional seller. Buying foreclosed homes through a sheriff sale is much easier and more recommended to do if you have the cash to buy the home(s) outright and you do not require financing.While buying foreclosed homes can be a very lucrative business endeavor, it can also be a very risky one too. Buying homes from sheriff auction can help you to buy a home for under market value, but in most areas the bidding on these properties begins at two thirds of their appraised value. Therefore, you are most likely not going to get any ridiculously good deals at a sheriff’s auction, but you can get some very good deals if you are patient enough and you do enough research on the properties before the auction. Remember you can not get into the home before you buy it, unless you stop by the house and the former homeowners are still living there, in which case you would need to ask them for their permission to walk through the home that they just had foreclosed on. This is usually not a recommended idea as some homeowners have very bitter feelings about losing their homes.Buying foreclosed homes is not a get rich overnight way to make money. Just like most other business ventures, it takes time patience, hard work and a lot of effort to be successful at it. There are other ways to buy foreclosed homes as well, but we will save those for another article. See the link below for more information about buying foreclosed homes: http://www.nomoneydown123.com/Ohio/buying_foreclosed_homes.htm
So you have decided to homeschool your kids rather than send them to a private or public school. Or perhaps you are only considering the option. Whether you’ve already made up your mind about homeschooling your kids or are only thinking about it, there’s quite a bit of research you would need to carry out before you start off. Deciding to homeschool your kids is a huge decision as it will shape them and have an impact on their adult life and their world-view.The first thing you would need to find out is the laws relating to homeschooling in your state. While homeschooling has been legal in America since 1993, certain laws may differ from one state to another. What you would ideally need to do before you start off is to visit a few homeschooling conventions so that you could have a good idea of what you are to expect from the whole process. Remember that it is no easy task. You would need to find the right homeschooling curriculum for your child and so on. These homeschooling conventions will have presentations to help you make the right choices regarding the curriculum, subjects and so on. The books used are not the same under all curricular. It would differ based on the subject material and the ultimate goal of the institution that came up with the curriculum.If you find that the textbooks are too expensive, you could always ask around to find used books. These could be found both online and at bookstores that deal with homeschool textbooks. You can also choose to print them off a website, as there are quite a few sites that provide free homeschool books that cover the basics.