How much does Sheriff's Sale add to the payoff? - Posted by thomas

Posted by David Krulac on April 23, 2006 at 12:56:08:


The attorney adds a fee, as well as the sheriff. In addition in some states there is transfer tax or poundage (Like Shakespeare’s pound of flesh) added to the bid price at sale. I’ve seen the costs from about $2,000 to $5,000 on an average priced house. Luxury houses can cost more.

How much does Sheriff’s Sale add to the payoff? - Posted by thomas

Posted by thomas on April 23, 2006 at 12:48:17:

Looking at at property that isn’t available sub2; reinstatement is high, and sellers aren’t cooperative. Looks like I might need a mortgage to buy this one during the redemption period, oddly, they seem amenable to that. About how much will be added to the costs of redemption (we have that here) or payoff amount AFTER the property’s gone through the Sheriff’s Sale process (for admin., penalties, atty fees etc.), as opposed to the payoff amount due before the sale?

Sheriff’s sale costs - Posted by John Merchant

Posted by John Merchant on April 23, 2006 at 12:58:41:

Since you don’t say what state you’re talking about, and all states have differing foreclosure procedures, I’d suggest you look at some foreclosure being advertised in your area.

Here, in WA state, the statutory ad in the legal paper itemizes all those costs so anybody interested can quickly see what it would take to even start bidding on a property.