BEST ANSWER
Like Jim, I would recommend going to a few sheriff's sales to see how it goes, and then make sure you have some money to put down as a deposit (it could be like $2000 - 5000 that you would need to put down for a deposit at the time of the auction) and plan on buying the house within a short period of time. (sometimes can be 30 days) At the sale, you will receive any information about what is owed on the house, what liens or taxes or unpaid bills there are as well. Obtain an attorney who specializes in these types of sales and make sure you ask that attorney how many he/she has done - don't just go on "yes, I do them" mentality....then have them work with a bank or mortgage broker (if not paying in cash) to get things going quickly and efficiently so the sale goes well for you. Good luck!
Thu Jun 19 2008, 19:13