How do i go about making sure that i am doing the right thing when it comes to buying from a sheriffs sale?

Bot2tle
Home Buyer
Milford, DE

Answers (3)
Angela Dolber
Agent
Whitinsville, MA

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
Jim Johnson
Agent
78247

Attend a seminar(s) for investors interested in sheriff' s sales. I believe you can find them and/or online courses by Googling. Then stand in on and observe several before you jump into it.

Thu Jun 19 2008, 15:29
Michael Giles
Agent
01915
FIRST ANSWER

GET A LAWYER!!!! These sales are better made by people that are investors. There are too many ways to get burned. Find a Lawyer that has experience working with Real Estate Investors.

Thu Jun 19 2008, 15:18

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