Sheriff Sales & Foreclosure AuctionsHow to pay for a sheriff sale
Facts checked as of Oct 26, 2026. Rules change — always confirm with the county.
Can you get a regular mortgage for a sheriff sale?
Usually not. The deadlines are short, you can't go inside the house before you buy, and you don't get clear title until the deed. Most buyers pay cash, or line up a short-term "hard money" or bridge loan before the sale. In New Jersey, Somerset County says plainly: "Additional time is not granted to the buyer to obtain a mortgage." (Somerset County Sheriff)
When the money is due
Ohio
Deposit (Ohio Revised Code 2329.211, residential):
- Appraised $10,000 or less: $2,000
- $10,001–$200,000: $5,000
- Over $200,000: $10,000
The court or person running the sale sets when the deposit is due; it is printed in the sale ad. Miss it and the sale is invalid. Online sales may take a card payment. (ORC 2329.211)
Balance: county terms say it is due within 30 days after the court files its confirmation of the sale — not 30 days after the auction. Paying late can cost you the deposit. (Summit County, Clermont County)
New Jersey
Deposit: 20% of your bid at the close of the sale, by certified or cashier's check.
Balance: due within 30 days of the sale. The former owner can redeem during the first 10 days; interest starts on day 11 (Hudson County lists 6.5% for 2026). If you don't pay, the property is sold again and the deposit can be kept.
Pennsylvania
Philadelphia & Montgomery: online at Bid4Assets. Send a $10,000 deposit before the auction (Philadelphia tax sales: $1,500). Philadelphia: 10% plus buyer's premium the next business day, balance in 15 days. Montgomery: full balance in 12 days.
Lehigh: in person; 10% by certified check right away, balance in 30 days.
(Philadelphia Sheriff, Montgomery County Sheriff, Lehigh County Sheriff)
Your options, safest first
1. Cash. Simplest and most common. Watch out: it ties up savings in one property.
2. Home equity line (HELOC) or cash-out refinance on a home you already own. Cheaper and fast if set up before the sale. Watch out: your own home secures the loan.
3. Hard money / bridge loan. Short loans (about 6–18 months) for investment property, usually to an LLC. Fast, but expensive, and you usually sign a personal guarantee. One investor guide lists typical Ohio terms of 12–15% interest, 2–4 points and 65–75% of value (AuctionScout, not an official source). Must be lined up before you bid.
4. Pay cash, then borrow against the property. Some buyers pay cash, then take a hard money loan on the property to get cash back (example).
5. Rental (DSCR) loan after you get the deed. A long-term loan approved on the rent rather than your paycheck — handy for retirees, but it can't be used on sale day.
6. Private lender or family. Flexible. Put it in writing and use an attorney.
Checklist before you bid
- Have your lender lined up and get proof of funds in writing.
- Bring the right deposit (certified/cashier's check in NJ; see the sale notice in Ohio).
- Run a title and lien search.
- Leave a cushion before the 30-day deadline.
- Talk to an attorney — counties recommend it.
Lenders that advertise investor or auction loans
Plain links, no referral fees. Listed for information only; we have not vetted these lenders. Terms are what each lender published as of Oct 26, 2026.
| Lender | Lends to individuals or LLC only? | What they publish |
|---|---|---|
| Easy Street Capital | Not published on the pages we checked | Fix-and-flip, bridge and rental loans. Says it can close fix-and-flips in as little as 48 hours. |
| Kiavi | Business-purpose loans (investment property). Check with lender | Lends in 45 states + DC, including Ohio and New Jersey (not MS, NM, RI, UT, VT). |
| Lima One Capital | Not published on the pages we checked | Fix-and-flip, rental, multifamily and new construction loans. |
| Groundfloor Lending | Not published on the pages we checked | Rates from 10.5%; loans from $75,000; 12-month terms; minimum credit score 640; minimum property value $50,000. |
| VeeCasa Funding (Woodbridge, NJ) | LLCs and corporations only (non-owner-occupied) | Bridge loans for NJ sheriff sale and bank auction purchases, up to 65% of value; loans $100,000–$2,000,000; credit 650+. |
| Veristone Capital | Not published on the pages we checked | Dedicated auction loan: same-day proof of funds, close in 48–72 hours, 9–12% rate, up to 75% of value, 1–12 months. States served not confirmed — ask. |
Not financial advice. These loans are for investment property, not a home you'll live in. Compare costs, read every term, and get advice from an attorney or financial adviser.