Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

User Stats

24
Posts
6
Votes
James Beam
  • Investor
  • Louisville, KY
6
Votes |
24
Posts

Sheriff Sale question

James Beam
  • Investor
  • Louisville, KY
Posted

Hello everyone,

If I purchase a SFH at a sheriff sale, will I get a Warranty deed free of liens on the property? I was unsure if I would end up getting a good deal on a property only to find out that there are liens on there. I am located in Louisville Kentucky. Must I have a title check run on every property I may bid on at auction??

Thanks!

J Beam

Most Popular Reply

User Stats

43,048
Posts
63,547
Votes
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,547
Votes |
43,048
Posts
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

@James Beam  I have not bought in KY  but in states were we have bought.. you Never get a warranty deed you either get a sherrifs Deed... or a Trustee's deed.

and generally speaking if you have looked at chain of title and you KNOW that your bidding on a first position lien then yes all the other liens are removed from the property as it relates to your purchase.

IRS liens survive but sunset in 120 days.. NO biggee there in all the years I have been doing this I have only had to talk with IRS once.. and at that we just paid them a litlte extra they did not redeem.. they threaten to .. but we had such a monster spread that they accpeted a few bucks.

HOA's can be a pain depending on the area.

But by and large you should be good... In some areas utls will stick as well.

I ran into a friend of mine on my Flight to Vegas yesterday and she said her brother has been active in your state .. peaked my interest I am going to check it out and maybe set up a team there.. 

Our West coast auctions have become so competitive that profit margins are in the toilet. So looking for greener pastures and I hear there is green grass in KY.

PS I love bidding on sales that have IRS liens so many people shy away from those.. but i get some screaming deals with those... Many times the only bidder and people snickering thinking we were dummys to bid... but we get the last laugh on those

business profile image
JLH Capital Partners

Loading replies...