All Forum Posts by: Jordan DeGusipe

Want to sell the property? If you're interested, we buy houses all the time with liens or overdue taxes. Otherwise, agree with above poster. Pay the oldest ones off first. 

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!

Do you still need to pay off the mortgage if you buy a home at a sherriff's sale in PA? Love a house coming up via the sherriff's sale, but it's got a 200k mortgage on it!

I HAVE A BETTER DEAL THAN MY PRIOR POST!!

Hubby found the deal that beat our prior one in terms of income producing potential. 

DUPLEX with 3bedroom/1 bath on one side and the other side with 2bedroom/1bath. Nice, quiet area, fenced in yards. $16,000.  After rehab, we have $22,000 all in. One side is already rented for $450/month plus utilities and the other side will be $550/month plus utilities.

The 4.6 acres mentioned above? Bought for $8750, have 11k into it after clean out and expenses. Sold it for $50,000 on a rent to own deal with 5.5% interest rate for $525/month for 9 years. With interest, the total would be over $60,000 for the property. Great deal for both of us. 

Depends on the property. The house on 5 acres we would most likely flip and sell but the 1/2 duplex we would most likely rent Brian Tapanes

Depends on the property. The house on 5 acres we would most likely flip and sell but the 1/2 duplex we would most likely rent

Bump!

Today! 😳judicial sale- 4.6 acres with creek running through the back with 3bed/1bath house for $8750 and 1/2 of a duplex for $2,000. Both need completely renovated, possibly gutted on the 1/2 duplex but not sure. But with $10,750 invested total, I feel like we will still come out on top.

Some pictures added!

The home condition is our main concern, because all windows were boarded up, we weren't able to see inside. The home bordering the creek is hoarded and seems to have some floor sloping with mold on carpets and a falling in attached garage, but the property is beautiful and overlooks a very nice creek. (I'll attach photos when I can at our home computer.)We are just hoping to atleast be able to fix them up and make a profit, but the properties both are in bad shape.