How to Buy a House at a Sheriff's Auction

Buying a house at a sheriff's auction is a good way to buy a foreclosed property at a substantially reduced price. Sheriff's sales or auctions are usually held monthly, and are good opportunities for investors or potential homeowners who have the cash in hand to buy an auction property. While each county has its own specific policies and procedures for handling sheriff's auctions, there a few basic steps that are common to these kinds of auctions.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• List of sales
• Cash or certified check
• Deed
• Writ of possession

1. Review the listings for sheriff's auctions in your county. You can usually find listings on the website for the sheriff's office in your county. Listings will also appear in local newspapers 2 to 4 weeks before the sale, depending on the county.

2. Attend the Sheriff's sale, and bid on the property you would like to buy. The highest bidder at the end of the auction will be awarded the property.

3. Pay for the property if you are the winner. Depending on the county, you may have to pay a deposit and pay the remainder in 1 month or may be required to pay the entire sales price immediately. You will usually need to supply a certified check, treasurer's check or cash as payment.

4. Obtain the deed to the property once you receive the official confirmation of the completed sale from the county. You will be responsible for paying any liens and back taxes in order to obtain clear title to the property.

5. Record your deed at the county clerk's office. You will be responsible for paying deed recording and realty transfer fees.

6. Apply for a writ of possession from the sheriff's office if you need to evict someone currently living in the property. You will be granted the writ when you have filed the deed and are officially the owner of the property. If the tenant's belongings are still in the property, you will have to pay to remove them or will have to remove them yourself.

7. Hire a locksmith to install new locks in the property. You will probably not be given keys by the sheriff's office and will need to install your own locks to make sure that the property is secure.

Tips & Warnings

• Check with the sheriff's office the day of the sale to make sure that the property will still be sold. If the owner's have managed to sell the house, have paid back taxes or declared bankruptcy, the property will be removed from the sale.
• You won't be able to see the interior of the house prior to the sale and will be buying the house "as is." While you can get a good deal buying a house at a sheriff's auction, you can also spend more money than you anticipated making repairs.

Resources

• Sheriff Sales Search on Foreclosure.com
• Real Estate Library
• U.S. News and World Report: 3 Key Ways to Buy Foreclosed Properties