Buying a sheriff sale home can be a great way to get a property at a below-market price. Sheriff sales are public auctions of properties that have been foreclosed on by the lender. When a homeowner fails to make their mortgage payments, the lender can foreclose on the property and sell it at a sheriff sale to recoup their losses.
Sheriff sales can be a great opportunity for investors and homebuyers alike. However, it is important to do your research before participating in a sheriff sale. You need to understand the process and the risks involved. You should also be prepared to pay cash for the property, as financing is not typically available for sheriff sale homes.