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Updated over 7 years ago on . Most recent reply

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Gordon Starr
  • Rental Property Investor
  • Dayton, OH
273
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312
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To go in or not to go in - that is the sheriff's auction question

Gordon Starr
  • Rental Property Investor
  • Dayton, OH
Posted

There is a property in this Friday's county sheriff's sale that looks really desirable from the outside. The street, neighborhood, due diligence all suggest I buy it. But, our good sheriff says you are to stop at peeking in the windows and not go inside! Seems like a good way to get shot, peeping in like that. Besides, I already did that, and you can't see much of anything. In the past, there would have been no way I would buy without first going inside. Now, I am less sure. What would you do?

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424
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Jennifer Beadles
  • Rental Property Investor
  • Phoenix, AZ
261
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424
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Jennifer Beadles
  • Rental Property Investor
  • Phoenix, AZ
Replied

@Gordon Starr I've purchased a ton of houses at the foreclosure auction, with the same issue of not being able to go in. If you're not comfortable, don't do it, but if you're able to get a substantial discount (which is the point of buying at these risky auctions) then it may be worth it if you can stomach it and you have the cash. 

Do know it's unlikely that you'll be getting any title insurance buying this way, and some liens may follow the auction such as municipal bills (water/sewer/garbage). You may even end up bidding on a second mortgage, so make sure you do some title research before you buy. 

Regarding your not going inside question, why don't you just knock on the door and talk to the guy if you see him? If he lets you in you're not breaking and entering. 

  • Jennifer Beadles
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