Sheriff sales
I've been to several sheriff sales in Bucks, Montgomery and Philadelphia counties in Pennsylvania. I've also done a lot of research both on bigger pockets and off. However, I keep coming across the same issue. To run title search on all properties can be cost prohibited. For example; last month in Bucks County they had over 300 homes up for auctions. 300 title searches could cost upwards of $30,000. I know I need a title search before I bid but $30,000 is too much. Additionally, when they publish the list of homes they post the real debt. However that doesn't match with the back calls out as their cost or what the starting bid price is. For example one property had real debt of $210,000 at the auction the bank called his cost at $86400 and the winning bid was $86500. Now I have to assume, I know you should never assume, this guy did his homework as he buys at least 1 property per month at auction. How do I identify what the banks cost or opening bid is verses the real debt? With that i can determine the smaller number of homes to run comps and title searches on. I tried speaking with that gentlemen; but he must not be a bigger pocket member. He just sort of growled and walked away. Thanks everyone for the help.