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Updated about 6 years ago on . Most recent reply

User Stats

30
Posts
2
Votes
Madhu Kumar
  • Rental Property Investor
  • Philadelphia, PA
2
Votes |
30
Posts

Buying Sheriff sale property

Madhu Kumar
  • Rental Property Investor
  • Philadelphia, PA
Posted

Hi,

I buy fixer uppers, rehab and rent them out for rent. This property is listed for sale for about a year and the price was reduced from 65k to 30k now. When i talked to the listing agent, i was told that it was the property they put an agreement from sheriff sale and are looking for Cash buyers. Property is not bad, need some minor work. My plan of action is to put an offer on contingent with clean title from Title insurance. 

https://www.zillow.com/homedetails/19-Main-St-Broo...

My questions are

1. Is it normal that the sheriff sale properties sit that long in market waiting for Cash buyers? 

2. Are there any other precautions I need to take care of?

And, thanks for answering. 

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