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Updated over 8 years ago,
Sheriffs sales/auctions in Lehigh County (Allentown) PA
There are a few properties we are interested in that will be going up for auction. I know that buyers must have 10% to put down immediately as the winning bidder and according to the County website, the balance must be paid within 21 days of auction close. If I am the winning bidder, I plan on financing the remaining balance. Our lender that we planned on using has advised us:
"the sheriff should know it will take more than 21 days to close on a purchase transaction due to state regulations. As long as you make him/them aware of that they should give more than 21 days, they should give a closing date longer than that."
I plan on reaching out to the sheriffs office next week for more clarification on this. I just wanted to find out what the BP community's feed back was.
Thank you for any and all input!