Strategies and help with buying at Sheriff Sale
Hi there BP community !
I'm getting mixed reviews as it pertains to Sheriff Sales. I live in NJ and have be going to the Ocean County Sheriff sale over the past few weeks and have spoken to different people on the topic and still don't have a clear path with this RE model.
Some of my questions are the following:
1. "Bank upset price": Does it make any sense for the bank to take a bid that is considerably less than that amount? Seems like there are cases that they do and was wondering why they would do that.
2. Max bid amount for Bank: Is this information accessible before the auction?
3. Assuming I can't get to see the inside of the house, what's the least amount of money I can assume would need to be put into the house?
Also, does anyone have a general strategy to bid on properties that are sold without seeing them?
4. Is there any legal way that I would be able to see the property?
Thanks for your help!