Sheriff Sale question

[James Beam]

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

[Jay Hinrichs]

@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