If you are looking for the ultimate source of great value property then Sheriff Auctions are the answer.
A Sheriff Auction, also known as a “Sale in Execution” occurs when a legal action is instituted against the owner of a property, and a court order is issued to have the property sold at auction. It is the Sheriff’s job to carry out these courts orders.
In most cases, the court order is obtained by a bank as a means to recover funds which have been lent to a property owner who has defaulted on the repayments.
Court orders can also be obtained by third parties such as a body corporate, a homeowners association or anyone else that the owner is indebted to. In these cases the sale is subject to approval from the bank.
Sheriff Auctions are attractive to the serious bargain hunter, as there is less competition than in the open market, and the prices are even lower than both repossessed properties and traditional property auctions.
The truth is that not many people out there even know about Sheriff Auctions. They are poorly advertised and are usually only listed two weeks before the auction – often leading to low attendance.
In fact generally, there is minimal access to information about the property, and few have the tools or know how to investigate them properly. Even for those who do, the process can be time consuming as one needs to have access to various sources of information to conduct the necessary research.
Get started with Sheriff Auctions by registering for free and gaining access to the following benefits:
• Comprehensive countrywide listings
• One-Click access to Deeds Office reports
• Email Alerts so you never miss a deal
For more information how Sheriff Auctions work please browse our knowledge base or feel free to contact us.