Does anyone know the process of purchasing a sheriffs sale?

Question

If anyone could provide any information of exactly how to purchase a sheriffs sale home, as well as if you get to look inside first, or if it is sold 'as-is', that would be great!

Thanks!

Answer 1

When you purchase something at a "sheriffs sale" you buy, "as is".

You are also responsible for ALL the liens and loans on what ever you happen to buy. Be it a parcel of land, a home or what ever.

Back taxes are your responsibility also.

So, its basically a "buyer beware" sort of deal.

If I were going to buy a parcel of land at a "sheriff's sale" I would go to the County Tax Asssesors, and see what the tax is for that parcel of land.

Then, go to the City's Tax assesors, and see if there are any liens or loans out against the property. Any overdue taxes.

Plus I would also go to the Engineers office and see if there are any vairances on the property that may hinder you to buy..(such as a leeway for public utilities, or variance for some one to cross your property at will, as in a road or public right of way).

When you go there, to the sale, inquire as to how they do it. In my jurisdiction, the sherriff will offer the property up for sale once, at the 2/3 value, and if no one bids on it, then he will offer it up for what ever price some one is willing to pay for it, the second time. (Thats when it usually goes for a lo less), so, ask before they start, and see what thier proceedures are...

Oh, you dont usually get to see inside the house that is for sale, so, its "as is" an can be completely wrecked, or be in good shape, it depends on how the previous occupants fared, like if they were being evicted, some people are not too kind to a property and will literally wreck the place... (Its a shame, but, it happens). So, you take the chance....

I wish you well..

Jesse

Answer 2

these are properties seized by the sheriff for payment of a debt

the sheriff is almost always required by law to publish a notice in your local paper, find the "legal notices" section and see a list of properties

i've been to these and seen them a lot, what you do is sign in when you get there and they give you a little auction card, if you want to bid they you bid, its like an auction

the biggest thing to remember is that you need to have the cash or other means of paying right there with you on the spot, the properties are all sold with no warranties and "as is"

im willing to bet that the sheriff has a website in your area set aside just for this purpose because the sheriff makes money this way

so type in "(local area) civil sheriff" and see what happens

good luck

Answer 3

The minimum bid is the backside they'll flow. If no person bids one in all 2 issues happens. it truly is the two listed as a "judgement bid" meaning that every time interior the destiny somebody can basically come on in with that money and get it. Or its held till the subsequent sale and submit back. undergo in suggestions it truly is beneficial have ALL income boost or interior of a question of hours or days (call and ask on your county to be particular). And all residences are bought as is the place is with out warranties expresed or implied" sturdy success, and additionally comprehend you may ought to evict the resident, which could be time ingesting and intense priced