Admin
Home > Blogs > Bruce Parker > Bruce Parker's (jerseybest) Blog
bookmark_border

How not to buy at the Sheriff Sale

By
Real Estate Broker/Owner with Best Realty

 

 

I attended a Middlesex County Sheriff sale this week. A very lucky buyer had the winning bid on a property at $540,000. The value of this property was $669,000. As is required the winning bidder went to the front table and started turning over his 20% deposit in collected funds. But wait a minute, his bank checks were made out to Monmouth County. He had been to the Monmouth sale two days earlier. He thought Middlesex County could accept the checks made out that way. He was told to return to his seat and the property was re-auctioned. That little over sight cost him an instant equity earned of $100,000. Ouch!

If you would like to learn more about how to buy at the sheriff sale give us a call at 732-266-3366.

How to buy properties at the Sheriff sale can be rewarding.

Show All Comments Sort:
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

The sale seems to have done relatively phenomenal numbers here! Big congratulations!

Dec 09, 2024 10:43 PM
Bruce Parker

Thanks,

    I am building some webinars and podcasts. Any subjects you might like to be a guest presenter on?

Thanks

Bruce

Jan 27, 2025 10:52 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Bruce - I have never been to a sheriff sale.  This experience reinforces the idea that it's important to understand the ground rules in any type of transaction.  Oh, those details can be costly.  Thank you for sharing this experience.  

Dec 10, 2024 03:30 AM
Bruce Parker

Thanks,

    I am building some webinars and podcasts. Any subjects you might like to be a guest presenter on?

Thanks

Bruce

Jan 27, 2025 10:52 AM
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Thanks for sharing your experience Brue!!!

I had been to and bid and won many properties in the mid 90's. Those were the best investments I made. There were quite a few deals then, now its almost impossible to get a great deal.

Dec 10, 2024 03:46 AM
Bruce Parker

Thanks,

    I am building some webinars and podcasts. Any subjects you might like to be a guest presenter on?

Thanks

Bruce

Jan 27, 2025 10:52 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Oh my gosh, a great example of why "Proper Preparation Prevents Poor Performance" is so true!

Dec 10, 2024 06:14 AM
Bruce Parker

Thanks,

    I am building some webinars and podcasts. Any subjects you might like to be a guest presenter on?

Thanks

Bruce

Jan 27, 2025 10:52 AM
Bruce Parker
Best Realty - Highland Park, NJ
You Deserve The Best

Hi, 

   Such an easy mistake to avoid. I see you do commercial. I have a school in New Jersey and I am looking for someone to teach a zoom class on the basics of commercial. If you are interested let me know. Jerseybest@msn.com

Dec 10, 2024 07:54 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing this story.

Bidders need to be well prepared when attending these sales.

Dec 10, 2024 07:57 AM
Bruce Parker

Thanks,

    I am building some webinars and podcasts. Any subjects you might like to be a guest presenter on?

Thanks

Bruce

Jan 27, 2025 10:53 AM
Back to Top

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?