What's The Best Way To Tackle A Sheriff's Sale?

I was wondering as a newbie, what's the best way to purchase a forecloser at a sheriff's sale here in Phili? I've been looking at serveral properties on there list and I've seen some good investments. I have very little cash but would like to take the next step and start making investments. Should I see if there are any other liens on the properties or contact the owners of the properties and work out an offer with them. I just need some direction.
Thanks for any help that can be offered. cool smile

Comments(3)

  • Stockpro991st September, 2003

    First I would go to two of them without bidding.
    FInd a property or two you like and then do all the work like you were going to bid on them and see what actually happens at the sale. Then follow up later and see what happened to the properties in question, how much did the buyer sell for?
    Now you have an education in the process.
    Usually when I hurry out to make money I am hurrying to lose it. Good deals come all the time (especially when your looking for them.
    [addsig]

  • hotrod1st September, 2003

    I understand going to a sheriff sale and familiarizing myself with the process but, what should I do once I've become comfortalble with the foreclosure. Should I start bidding on the properties on the foreclosure date or, should I work something out with the owners before the foreclosure date? What would you suggest?

  • Stockpro991st September, 2003

    I woud suggest doing both, if a short sale doesn't work then go for the sherrif's sale.
    [addsig]

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