How to Find Land Bank Foreclosures in Kentucky
Kentucky law allows banks to foreclose on land mortgages in default. The bank files an action in a Kentucky judicial court to start the foreclosure process, and the court can then order a judicial sale, where real estate buyers can bid on foreclosures. (The bank may also sell foreclosed properties on the market at the end of the foreclosure process.) If you're buying land and you know how to find Kentucky land bank foreclosures, you can find good deals and bid on properties at auction or in the real estate market.
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Instructions
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Access an online listing of Kentucky newspapers. Kentucky requires banks to advertise judicial foreclosure sales in a local newspaper for three weeks. You can find foreclosure sales in the legal notices posted by the banks. Click on the links for the newspapers. Look for the legal notices or classifieds section of each newspaper. Find out the place and time of the sale and the address of the property by reading the notices. Most judicial sales take place at a local courthouse.
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Check each newspaper at least once every three weeks to avoid missing Kentucky land foreclosures. Kentucky requires judicial sales in bank foreclosure actions (except in cases of abandonment of the property), so you can find almost every bank sale of land in Kentucky that is going through foreclosure.
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Access the FreeForeclosureDatabase Kentucky foreclosure listings to find bank listings of foreclosed properties. If the bank places the highest bid at the judicial foreclosure auction, the banks put up the land and homes for sale through a real estate agent.
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Find Kentucky foreclosed properties from the FreeForeclosureDatabase. Look through the listings to get details on the properties. Most of these land sales have a specific listing price, so contact the agent specified in the individual listing to find out more about each property.
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Find additional Kentucky bank foreclosure sales with the BankForeclosuresSale database (see Resources). Select any Kentucky county to search for properties. Take a free trial to see the details of the individual listings.
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Tips & Warnings
Get email alerts on new Kentucky foreclosures for any county (see Resources). Enter a valid email address and confirm your email account to begin receiving Kentucky foreclosure alerts.
Try to inspect land and homes before placing any bid on foreclosures. Judicial sales do not provide an inspection, but the owner may still be living on the property. You can ask about the property or request to do an inspection.
References
Resources
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