Sheriff Sales

[David Wiek]

Hello, I have been checking out sheriff sales and foreclosure sales for quite awhile now, and can't seem to get a very good answer regarding purchasing at these events. My confusion is regarding the redemption rights. It seems like there are investment groups out there that are buying, or trying to buy the redemption rights to all of the good properties. My understanding is that if I were to buy a property at the sheriff sale, or even a different type of auction, then these investor groups could swoop in and redeem the property for what I paid, plus minimal expenses. Does this mean the only way to safely buy at these auctions is to secure redemption rights prior to the auction, by contacting the current owner and negotiating a deal? If so, would I be competing with others that are trying to buy redemption rights as well?

It seems like there are many good properties going to these auctions, but so confusing on how to actually purchase them.

Thanks for any guidance.