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Updated over 5 years ago on . Most recent reply

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Ted Rave
  • Financial Advisor
  • Marion, IA
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Getting into Sheriff Sale Properties

Ted Rave
  • Financial Advisor
  • Marion, IA
Posted

I am running into a problem....I think there are some potential risk adjusted returns on certain Sheriff Sales, however I NEED to get into these properties before going to the Sheriff Sales and bidding up to my limit. 

Even if I know certain houses are vacant I am having trouble finding who to get in touch with to get into the house for just a few minutes to take a look around. I tried contacting the Attorney listed on the Notice of Sheriff Sale and the Attorney said they do not handle the property management during the period of foreclosure and that was the end of the conversation.

I was thinking I could throw the contracted Property Manager a few bucks to open the door for a bit and let me walk around but it sounds like there is no one to contact on this front since no one is managing the property. 

Besides breaking into the houses, I don't know where to turn to next to get into these houses so I can get an estimate of repairs and maintenance. 

Anyone else have experience with this issue or how they get into vacant homes to get an idea of repairs?

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

short answer is you don't get into them.

you just have to walk around them and peer into the windows..

if the windows are all closed up.. then that's tougher. 

many times a window will be left unlocked you can get in that way but its trespassing.

many times as well a few days before the sale all of a sudden the back door has been kicked in.

some investor ahead of you.. simply wont bid unless they get in side and they have kicked the back door in.

ONe guy I knew was small of stature and could get in through doggie doors  LOL.

but that's the nature of foreclosure business.. HIGH RISK high reward.. or you hope.

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JLH Capital Partners

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