Posted by: dan1658 | April 20, 2010

Buying Foreclosure Property at Sheriffs Auctions

By far the most popular items at sheriffs auctions are foreclosed homes. There are many problems associated with buying items at sheriffs auctions. First thing is you are not allowed to enter a property and inspect it before you bid. There could and usually are problems with the homes in foreclosure. This can be due to negligence or by the former owners trashing the home.

A second problem is that you are usually bidding against the company who held the foreclosed mortgage. These companies bid at the auctions to guarantee that the property is not sold too low and they would lose money. They usually win these sheriffs auctions and turn the property over to a realtor to sell for them.

Another problem you may encounter is problems in getting financing. Many banks will not finance a home without first having an inspection. Since you are not allowed to enter the property that is impossible. And couple that with having to pay the balance on the day of the sheriffs auctions and you can see why it is a hassle.

These are just some of the hassles you can expect if you would like to purchase a home at a sheriff sale or sheriffs auction. For more information on buying and bidding on items at sheriffs auctions plus listings and schedules of auctions click on the following site:

Posted by: dan1658 | April 20, 2010

Welcome to the Sheriffs Auctions Blog

Just about every county in every state in the United States has homes that have been foreclosed on. With the economy in the sad shape it is in there are even more than before. By law the sheriff or his designee must auction these properties off. The county sheriff is usually involved in the foreclosure process  by presenting paperwork to the people who are being foreclosed. Please read the information provided in this blog and feel free to comment and ask questions.

When certain counties across the United States have items that need to be auctioned off it is usually the responsibility of the highest law enforcement officer. In most cases the highest ranking officer is the county sheriff or constable. The sheriff usually sets a certain day or day of the month for these sheriffs auctions and it is published in the local newspapers or on the internet or both. To find schedules for these sales you should visit the county sheriffs website or another site you may try is Sheriff Auctions. For example the Brown County Ohio sheriffs auctions are held on Mondays if there are items available for auctions.

The items that are auctioned off at these sheriffs auctions usually fall into three categories. The first category is homes and real estate that have gone through the foreclosure process. The county sheriff auctions off these properties for the mortgage holder but the thing is the mortgage holder in most cases give the highest bid and wins it back. The second type of items auctioned off at county sheriffs auctions are items seized from criminals or during a crime. Usually the items in this category are automobiles, motorcycles, or RVs. The third and final type of items is things like computers, office supplies etc that come from government offices that either closed or replaced.

It is said that you can get some good items at sheriffs auctions but you may want to do price checks before you buy anything. At most sheriffs sales the opening bid starts at 3/4th of the appraised value so you may not be getting that great of a deal after all.