Buying a Foreclosure in Pennsylvania

3 Replies

A property I’m interested in buying is up for auction in about two weeks. I’m familiar with the previous owners and the condition of the home. Can anyone provide some advice or guidance on researching the liens against the property and/or financing a foreclosed property? Thanks in advance!

@Elizabeth Zaludek if the property is listed on an auction site or on the MLS then most likely you will get good title when you close on the deal. If its a sheriffs sale property going up for public auction at the county courthouse then you will need to do a lot of research and I wouldnt suggest that route until you are well informed and prepared.

Originally posted by @Alex Deacon :

@Elizabeth Zaludek if the property is listed on an auction site or on the MLS then most likely you will get good title when you close on the deal. If its a sheriffs sale property going up for public auction at the county courthouse then you will need to do a lot of research and I wouldnt suggest that route until you are well informed and prepared.

Why do you say you should do more research if the property is going to Sherrif sale? Does the sheriff sale signify a red flag or something? Should I expect there to be additional liens on the house?

PS:

There is a property in my neighboorhood that is going up for sheriff sale in a week and when I contacted the owner he said he filed for bankruptcy.

I found the tax records and it says he is still the title owner. Is it still possible for me to make him a cash offer and prevent foreclosure and sheriff sale?