When a homeowner is unable to pay his or her mortgage, or they become delinquent of various local taxes, the property is taken over and sold at a public auction known as a Sheriff's Sale. Buying a property through a Sheriff's Sale can be a great way to purchase an affordable home and make a sound investment.
If you are deciding to purchase a home in Philadelphia, consider purchasing it through a Sheriff's Sale. Doing so comes with many benefits:
- Affordability - One of the best benefits of buying a property through sheriff's sales is the reduced bidding prices which sometimes go as low as nearly half of its actual value.
- Power to decide your own price - The unique feature of bidding through sheriff's sales foreclosures is the fact that you can assess the property and decide your own price based on your budget and the property value.
- Direct purchasing - By bidding at an auction for a property of your choice you do not have to deal with any middlemen and spend money on agents.