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Updated about 1 year ago,
Buying via a Sheriff's auction
Hello all,
This morning I went to a sheriff's auction at my local courthouse. My only intention was to go and sit in the back to get an understanding of how the process worked. When I showed up I was the only person there other than the bank's rep and the court deputy that held the auction. I didn't purchase the property but I did feel as though I found a new avenue for deal hunting in my small town that seems mostly overlooked by my fellow land lords.
I understand the basics of how the auction works and have a couple contacts in my area but I know there is a lot I could still learn. The process in my town is 10% down at the time of the auction and the remaining 90% in 24 hours. I also understand that I am buying the property sight unseen (aside from driving by) and that does come with its risks. My question to you all is what reading materials / podcast episodes should I be looking into to gain more knowledge or a general strategy?
Thank you in advance for your input.