HML for Sheriff's Sale

[Ben Oestrike]

I'm looking to participate in the upcoming Sheriff's sale in York, PA and I would need financing. As I know I wouldn't be able to receive a bank loan for a sheriff's sale I'm looking to find a HML. My question is, will most HML lend for a sheriff's sale with the risks involved? If so how can I find a good HML in my area? (DM if you're a HML in the York PA area and may be interested) I'm not aware of any other viable forms of financing for this situation but I'm open to new ideas.

[Jay Hinrichs]

Quote from @Steve Hiltabiddle:

Hey @Ben Oestrike, I've been asked this question and as a lender, I would not lend funds for a sheriff sales.  Main reason is the buyer, nor I as the lender have an opportunity to view/vet the property prior to purchase.  Sheriff sales require a lot of due diligence anyway and not being able to get inside a property is a huge risk. Also, many properties are still occupied which is another huge negative.  Plus, it can take 30 days or more to get the deed.  As a lender, I look to mange my risk and sheriff sales remove that ability.  I would lend on a property after the deed has been issued and the borrower has had a chance to walk the property and assess value and potential and I've had a chance to assess the deal.

If you find a professional lender willing to do this, let me know.  I've spoken to some and none have said this is a safe loan to make.

Best of luck,

I fund sherrif sales but only in select states  NOT PA too complicated there and too much risk.