Buying a property that is schedule for an auction

[Yuriy Grytsulyak]

Good morning,

I am new to the REI and trying to educate myself on the subject. Is it even possible to buy properties that are scheduled for a sheriffs auction before the auction in Pennsylvania? On my local sheriff auction website I can find properties that are of interested, there's also a balance owned listed right there on the website, which i assume is a minimum what it would take to buy the property.

Any good information will be appreciated. 

Thank  you

[Josh Caldwell]

You can buy that property and stop the auction by curing the default, paying the debt, up to the morning of the auction.  In reality you want to pay this off at least a day or two before the auction.  The upset number is the number advertised most of the time. This is the debt owed to the entity that is foreclosing.  WARNING:  You need a title search BEFORE you pay any debt. There may be other liens on the property, and they may be bigger and in superior position. It would really suck to buy a property and then find out that the debt you paid off was the 2nd mortgage, and the first just called the loan due when you took title.  

On a good note, you can get some serious bargains buying houses before the auction. I love this technique. If I can get it before the auction, I dont have to go an bid against everyone else. I really dont like competition on my deals. competition just drives the price up, it does nothing to help me at all.