Whats a Execution Sale?

5 Replies

Ive recently found out that the Sheriff's office holds a execution sale.  I am fairly new to this, so if anyone can shed some light that would be greatly appreciated.

Also what happens when you are the highest bidder in a sale like this? whats the next process? 

Also what would be a redemption period on a sale like this?

thanks again BP family!

Originally posted by @Fahim Siddiqui :

Ive recently found out that the Sheriff's office holds a execution sale.  I am fairly new to this, so if anyone can shed some light that would be greatly appreciated.

Also what happens when you are the highest bidder in a sale like this? whats the next process? 

Also what would be a redemption period on a sale like this?

thanks again BP family!


An execution sale is a "forced sale". Sometimes sales for taxes can be redeemed but I think that's a separate issue and the redemption times vary by jurisdiction. (typically 6 months to 2 years or so)

 

Originally posted by @John Teachout :
Originally posted by @Fahim Siddiqui:

Ive recently found out that the Sheriff's office holds a execution sale.  I am fairly new to this, so if anyone can shed some light that would be greatly appreciated.

Also what happens when you are the highest bidder in a sale like this? whats the next process? 

Also what would be a redemption period on a sale like this?

thanks again BP family!


An execution sale is a "forced sale". Sometimes sales for taxes can be redeemed but I think that's a separate issue and the redemption times vary by jurisdiction. (typically 6 months to 2 years or so)

 

Great! Thank you for the insight

 

Originally posted by @Wayne Brooks :

Those are typically when someone forecloses on a civil judgment,....not a mtg or property tax foreclosure. The foreclosing creditor is often Not in first position though. Be diligent with a title search.


 It's been tough on how these exection sales run. Do you know what happens after you become the winning bidder?

 If it is occupied, do you pay them to leave or do you try to evict them?  What process have you tried?