Erie Real Estate

Sheriff Sale

  The next 2 scheduled Sheriff Sales are 11/21 and 1/23.  There are no sales in December.   This take place at 10:00 AM in the Central Court, Erie County Courthouse.

More information is available by contacting the Sheriff's office  

Sheriff Sales

Upcoming sales...

The Sheriff's office has been very busy.  No sales are held in December, therefor the list for January is lengthy. 

The next scheduled sale is February 15th.  Followed by March 14th.  These sales are at 10:00AM at the Erie County Courthouse.

Some good opportunities are usually available.  If you go and plan to bid you should have an attorney do the title work in advance.   

August Sheriff Sale

8/24 at 10:00 at the Erie County Courthouse.                  

There are 41 properties scheduled for sale at this time.  Additional properties that were postponed from prior months will more than likely be added.

Erie County has real estate sales every month except december.  Prior to 1999, the average yearly sales numbered in the mid - upper 100s.  Yearly sales have grown steadily since 1999 and in 2006, a total of 636 sales were processed by the Sheriff's Office.

When the lender takes back a property they typically pay the cost of the sale and taxes owed.  A misconception I commonly hear is that the bank paid (for an example) $3,100.  This person then thinks that offering $5,000 is generous and cannot understand why the bank won't take the offer and make an instant $1,900 profit.  Probably because the bank didn't pay $3,100 therefore, the $1,900 isn't profit.

To elaborate on this, I'll give you a scenario of a current listing of mine.  It's currently on the market for sale at $15,500.  The judgment on this property was for over $51,500!  That's how much the bank had into it.  So when they pay cost and taxes at the sale, they're just taking it back to lessen their loss.

If you go and plan to bid please know that you MUST possess a cashier's or certified check in the amount of your highest bid or have a letter from your lending institution guaranteeing that funds in the amount of the bid are immediately available.  Also, if you have an interest in buying a property at the sale, it would be a good idea to talk with an attorney prior to.  They can check the title and advise you.

The remaining sale dates for the year are: September 21st, October 19th and November 16th.  There are no sales in December.

I'll let you know how many were actually sold at the sale in a later post.