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Updated over 10 years ago,

User Stats

87
Posts
62
Votes
Sean Pincus
  • Developer
  • Philadelphia, PA
62
Votes |
87
Posts

Sheriff Sale - Buying Before It Goes to Sale

Sean Pincus
  • Developer
  • Philadelphia, PA
Posted

Hey all, I've been asking a lot of questions because as I expand my real estate investing I am encountering more and more situations I don't have experience in.

I found a property that is listed on Sheriff Sale for this coming September auction. I have spoken to the homeowner who told me they will do whatever it takes to avoid the pending sale next month. I am interested in the house and asked the owner what they'd be willing to take. The owners told me that they would be happy if someone paid off the outstanding debt + $3k. The $3k is because the debt alone is so cheap compared to other properties being sold they feel they'd like to take that money to get a start somewhere else (deposit or what not). 

My questions are the following:

- How can I confirm the debt amount that is owed?
- How do I go about getting this under contract with the above provisions if the debt is reasonable?
- How do I ensure that the homeowners will be out of the house by September?
- How do I ensure that they take all over their belongings?

Thanks!

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