How to Bid at Sheriff Sales
Sheriff sales are conducted to auction off both real estate and personal property, typically automobiles. Real estate and other property are auctioned at sheriff sales for a number of reasons, including foreclosures, back taxes and seizure by law enforcement. Every individual county (or parish in Louisiana) establishes a specific procedure for how to bid at a sheriff sale. Some procedures are standard in most jurisdictions around the country.
Other People Are Reading
Instructions
-
-
1
Review the description provided by the sheriff's office of property to be sold at a particular auction. Pay close attention to the minimum price–oftentimes called the "reserve price" at an auction. If no bid reaches that minimum level, the property is not sold.
-
2
Obtain cash or ready access to certified funds (a cashier's check from a bank, for example). At most sheriff sales, the winning bidder must pay for the property purchased immediately with cash or certified funds. Typically, a sheriff sale is conducted during the business day to allow a person access to cash or a financial institution.
-
-
3
Register to bid. More sheriff sales require a person interested in bidding to register to participate. In some instances, registration must be done by a deadline date before the scheduled auction. In other locations, registration is permitted on the day of the auction at the auction site.
-
4
Obtain a bidder's number. At most sheriff sales, a person interested in participating is assigned a bidder's number.
-
5
Place a bid or bids (as the sale requires) in an attempt to purchase the property you desire. Decide in advance how high you are willing to bid in regard to a piece of property so that excitement and emotions do not get the best of you.
-
6
Raise your hand to signify your bid. Vocalize only if a spotter does not immediately see you. In most cases the number of people bidding at a typical sheriff sale is not large. Your effort at bidding is not likely to go unnoticed.
-
7
Obtain a written bid form from the sheriff's office on the day or or in advance of the auction. In some cases, a sheriff sale is conducted using written bids submitted during a specified period of time on a given date.
-
8
Complete the bid form and submit it to the sheriff's department at the date and time established for the sale. Typically, a written bid is submitted to the civil division of the sheriff's department.
-
1
Tips & Warnings
Contact the sheriff's office in your county to obtain the rules or guidelines for a sheriff sale. As an alternative, a growing number of sheriff's departments maintain these guidelines on their websites.
Always remember that when you purchase real estate or other property at a sheriff sale, you accept the property in an "as is" condition. Generally speaking, you have no right to return something purchased at a sheriff sale if you are dissatisfied or even if the item purchased is seriously defective.
