Updated over 9 years ago on . Most recent reply
Just purchased my first deal at auction!
I just purchased my first deal at a sherriff's sale. Purchase price was $24,500 and I'm thinking it could sell as is for $50k or rent for $750 - $800/mo. I was able to see inside by peeking through the windows and it looks pretty solid. The electricity is off but there wasn't any flooding in the basement, which I was initially worried about. I did plenty of due diligence and had a professional title search done before bidding.
Just wondering if anyone else has had success with foreclosure auctions? How long until I take possession? How long before I can get the electricity turned on? How long should I wait until I call a locksmith to enter?