Steps to buying property at a public or police auction

Written By Steps To Faculty Published June 14th, 2010

Have you ever considered buying a house, car, jewelry, or other valuable goods at a public auction or police auction? Police auctions are designed to let the public buy properties that were confiscated or fell under a lien by the sheriff or the police. Since the property is the responsibility of the sheriff or police, they want to sell it as quickly as possible for deep discounts. There are many opportunities to get a good deal at such auctions if you know how the process works and what to look for. Let’s take a closer look.

Step 1 Check your local police station or sheriff’s office

To get a listing of the auctioned properties you need to visit your local police station or sheriff’s office and request a list. Usually the properties are listed up to four weeks in advance of the actual auction. The sheriff or police will also provide you with an address as to how to attend the event.

Step 2 Bid

Upon attendance be sure to bid on the properties you would like. Remember, the property goes to the highest bidder.

Step 3 Make a deposit or pay up

If you are selected to be the highest bidder, then the property is yours if you make a deposit and pay the remaining balance in 30 days. In many cases you will be required to pay the balance up front in order to obtain the deed to the property or the full rights to them. A treasurer’s check or certified check is the most common form of payment. Sometimes, cash is also accepted as a form of payment.

Step 4 Record the deed at county clerk’s office

Record the deed or transfer of ownership, if applicable, at the county clerk’s office. If the property be a home, you will also need to pay off any back liens, judgments, or taxes on the property. You are responsible for the fees.

Step 5 Evict anyone currently living on the property

Get a writ of possession to evict anyone currently on the property and then change the locks. You are responsible for these fees also.

Remember, there are good bargains to be found at these auctions, but you may not always get to see the property prior to purchase. You are buying as is.

Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.