If you are an interested homeowner the fastest and simplest way to acquire foreclosed homes are through sheriff auctions. The best reason to consider buying homes in sheriff auctions is that one can get a huge discount from the property's actual value.
Click on the map and start your search
What Are Sheriff Auctions?
Foreclosed houses are due to the inability of the property owner to continue the necessary payments. Government agencies or lenders seek the courts help in declaring the property foreclosed. Once the courts have made its decision, a date will be set for a public auction. The auctions are a way to make up for the defaulted loan in a fast way. The sheriff's office is mandated to oversee such transactions hence the term sheriff auctions.
Taking Part in the Bid
ESourceForeclosures.com provides a definitive database of sheriff auctions by state to help investors and prospective homeowners in their search for the right home. Since these listings are announced a few months before the actual bid, you have time to visit the property. One can search the site by zip code or county, in order to look for entries closest to your location. To help you decide, foreclosed houses are listed with important property information such as number of rooms, total area and age of the property.
Things to Consider
It is best to consider the things that you want in your own home before participating in sheriff auctions. Such things such as including the maximum amount that you can bid before scanning our list to narrow down your search. A visual inspection will also assist you in choosing the home, taking note of areas that might need renovation. This will also give you a picture of how much will be spent after getting the property. Ultimately, if you're lucky, sheriff auctions can help you get a house with as much as 50% off its original price.
