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Updated over 10 years ago,
Sheriff Sale - Buying Before It Goes to Sale
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!