Sheriff's auctions

[mau99]

What is the name of your state (only U.S. law)? Massachusetts

Are there really deals on buying houses at a sheriff's auction like you see

on infomercials? If not, in general what kind of prices can one get a

house for, at a sheriff's auction? Is it possible to get one at 20 % of the

tax value?

[FlyingRon]

Usually not. They're selling you legal but largely worthless (you could find out the information yourself with a little free legwork reading the papers, etc..). Anything secured by a mortgage is highly unlikely to get sold for less than the mortgage balance because the lender will bid that just to protect their interest. It's unlikely that any property worth having is going to be sold exlusively to settle a small tax lien, and if it is, expect competition at the bidding.

Be aware that to bid on these means you must do your due diligence as to what the property is and what it is worth, what other encumberances other than the taxes or whatever is forcing the sale is, and then you better be able to provide certified funds in short order to close the sale.

[mau99]

QUOTE=FlyingRon;2269689]Usually not. They're selling you legal but largely worthless (you could find out the information yourself with a little free legwork reading the papers, etc..). Anything secured by a mortgage is highly unlikely to get sold for less than the mortgage balance because the lender will bid that just to protect their interest. It's unlikely that any property worth having is going to be sold exlusively to settle a small tax lien, and if it is, expect competition at the bidding.
Be aware that to bid on these means you must do your due diligence as to what the property is and what it is worth, what other encumberances other than the taxes or whatever is forcing the sale is, and then you better be able to provide certified funds in short order to close the sale.[/quote]

Thanks for answering. I went online to the Registry of deeds. The last mortgage date was 11/15/1988 for $33,100; I think there are 3 liens
from 3 mortgage companies, but it doesn't say the amounts, or am I
just looking in the wrong place?