Your #1 Source of Sheriff Sales

Understanding the proceedings of such sales

The lenders attorney prepares the necessary paperwork for the sales. It is done nine weeks prior to the actual sale. Then the Sheriff’s Office is notified about the need for the sale. Once the office acknowledges the sale, it notifies various entities of the sale. The local tax office is notified to be informed about any outstanding taxes due on the property. If the due taxes are there, they are added to the property’s cost. Similarly, other government departments are notified to see, if they have something delinquent on the property. Then before thirty days of the sale date, the owner is informed. A public notice is placed on the fences or windows to publicize the sales.

Why are the investors crazy about these sales?

The investors are fascinated by these sales due to the same reasons as with any other types of foreclosures. The lender is organizing these sales, as they want to raise the money due to them. They are not doing it to earn any profit. Also the amount due is usually lower than the full value of the property. This is what the investors are fascinated with. Buying such a property is a straight home run for investors. Since the money paid is quite less, the investors do not have to take much trouble. The investors first earn back their investment by renting the property out to someone in need and then they sell it for a huge profit.

Where to find them?

These sales are advertised on the property itself as there are notices placed on the windows, fences as well as many other places. Again, the sales are advertised to the general public. At least three weeks prior to the actual sale, an advertisement is put in the local newspaper. Again, these sales are mentioned in the various legal journals as well as other publications. The Sheriff foreclosure sales are also advertised at the courthouse, hence are very easy to spot.