Question by Kara O: buying a sheriff’s sale home?
i am very interested in a house that is going up for sheriff’s auction. this will be my first home. i have asked a lot of questions to ppl that i know because i really dont know how the process works. i was told that alot of the time the bank will go to the auction and buy the house back, how often does this happen? any if anyone has any other helpful tips regarding a sheriff’s auction, please let me know. i believe the sale is in 6-7 weeks. i have seen the house and it is absolutly perfect. i will be very sad if i dont get it.
Answer by golferwhoworks
get pre qualified to buy if you need a mortgage. they will not even look at you with out a letter stating you can obtain financing on the home. You can bid up to the amount of the commitment letter and beyond if you bring the extra cash to close
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