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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Buying from the high bidder at the Sheriff's Sale Posted by Ward-CA- on June 24, 2001 at 9:37 PM In Reply to: buying house from sheriff's sale posted by fran on June 24, 2001 at 11:57 AM : Interested in buying house sold at sheriff's sale in nj. Told deed would be made out to me if I paid the sheriff & new owner. New owner's name would not be on any record. Do I need any type of title search, etc. before turning over money to this new owner? Any other help appreciated! =•=•=•=•=•=•=•=•=•=•=•= I would be more than a little suspicious that someone who bought a property at a Sheriff’s sale would want to immediately resell it. I mean, why did they buy the property just to resell it so quickly? One likely reason is that the new owner was turned off by something that they learned after they bought the property. Also, it seems strange that the Sheriff is going substitute you in as the owner rather than issuing the deed to the winning bidder who in turn would deed the property to you. Regarding whether or not you should get an independent report of the condition of title the emphatic answer is YES. You should always, no matter the seller, no matter the deal, independently verify the condition of title. If you don’t have the skill to do it yourself, then by all means buy a title report and read it thoroughly, before committing yourself to any real estate transaction. Just remember, fishy deals smell that way for a reason. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Interested in buying house sold at sheriff's sale in nj. Told deed would be made out to me if I paid the sheriff & new owner. New owner's name would not be on any record. Do I need any type of title search, etc. before turning over money to this new owner? Any other help appreciated! : =•=•=•=•=•=•=•=•=•=•=•= : I would be more than a little suspicious that someone who bought a property at a Sheriff’s sale would want to immediately resell it. I mean, why did they buy the property just to resell it so quickly? One likely reason is that the new owner was turned off by something that they learned after they bought the property. : Also, it seems strange that the Sheriff is going substitute you in as the owner rather than issuing the deed to the winning bidder who in turn would deed the property to you. : Regarding whether or not you should get an independent report of the condition of title the emphatic answer is YES. You should always, no matter the seller, no matter the deal, independently verify the condition of title. If you don’t have the skill to do it yourself, then by all means buy a title report and read it thoroughly, before committing yourself to any real estate transaction. Just remember, fishy deals smell that way for a reason. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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