Sherrif sales - Great deals or myth?
Just like the subject reads; sheriff sales - great deals or myth?
Every real estate investing book I’ve read or podcast I’ve listened to, this is a strategy many employ for deeply discounted properties.
I’ve been working with a seasoned real estate agent for the past couple of months to try and lock down my first deal. I have been browsing county sheriff auctions for some sort of rehab project because the market has been pretty low inventory where I am looking. Every time I mention the sheriff auctions to my realtor I get a 10 minute lecture on how it’s impossible to get a property at a sheriff auction, the banks out bid everyone and re list them. Being new to the game, it has me suspicious. Is she correct or is she just trying to prevent me from purchasing so she doesn’t lose out on precious commissions? I can’t really tell. I have the cash to cut a check at the auction and run with it, but haven’t wasted any time actually going to one because of her warnings. Interested on feed back and to hear if it’s be worth my time to forgo her advice and go to an auction or not.