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Updated over 8 years ago on . Most recent reply

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17
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3
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Jordan DeGusipe
  • Investor
  • Pittsburgh, PA
3
Votes |
17
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PA Sheriff's Sale

Jordan DeGusipe
  • Investor
  • Pittsburgh, PA
Posted

Hey guys! 

Newbie to sheriff's sales.  I have some questions.

Do any liens/mortgages remain on the houses through a sheriff's sale? We love this one house on the list to be auctioned, but it has a $200,000 mortgage on it from 2010! Are we responsible for that mortgage if we bid on the home, or does the amount we pay just go towards the mortgage and the rest is cleared?

Any advice is appreciated, thank you guys so much in advance!

Most Popular Reply

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105
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25
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Anthony Yannucci
  • Real Estate Agent
  • Port Saint Lucie, FL
25
Votes |
105
Posts
Anthony Yannucci
  • Real Estate Agent
  • Port Saint Lucie, FL
Replied
Originally posted by @Jordan DeGusipe:

Hey guys! 

Newbie to sheriff's sales.  I have some questions.

Do any liens/mortgages remain on the houses through a sheriff's sale? We love this one house on the list to be auctioned, but it has a $200,000 mortgage on it from 2010! Are we responsible for that mortgage if we bid on the home, or does the amount we pay just go towards the mortgage and the rest is cleared?

Any advice is appreciated, thank you guys so much in advance!

 From my training, mortgages are wiped away on a tax deed sale.  Most everything is wiped away with the exception of county liens.  What county in PA are you working in?  How often are those sales?  Are you only investing in tax deeds?  Any other states other than PA?

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