Have you attended a “Sheriff’s Sale” public auction of property?
What’s it like?
I’d like to get a good idea of what it’s like because I’ll be bidding on a property in the San Francisco City Hall next month and I definitely do not want to screw up.
The property that I’ll be bidding on is for half interest in an apartment building.
I want to bid on the auction of half of a specific apartment building because I own the half that’s not for sale. I’m prepared to bid up $500K and pay in cash on the date/time of sale.
For those of you who may or may not remember my earlier question related to this: Yes this is the same apartment building that I lost in a convoluted and crazy legal action with DIR (Department of Industrial Relations). I recently turned down an offer by the DIR to buy back half of the apartment building for $750K.
I am however prepared to buy back half of the apartment building with a reasonable but low bid.
The San Fransisco Sheriff’s Department “Notice of Sheriff’s Sale” states that they will sell this property at public auction to the highest bidder (at a specific place, date, time).
I’m thinking that I may be the only one bidding. After all who (besides me) would want to bid to purchase HALF of an apartment building? Who wants to become co-owner in anything with a stranger? Perhaps a bank? Realestate company? Anyway, If someone bids on this property, then I’ll be there to make sure that they don’t get it for free and anything next to it.
Thanks for your time.
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