Simulation: a fictional property for practice.

An Arizona sheriff’s sale: 30 days or 6 months?

An Arizona sheriff sells a house after a court foreclosure. How long you wait depends on what the court found.

A fictional house at a sheriff’s sale in Arizona.

• Sale: Sheriff’s sale after a judicial foreclosure, Arizona
• Your bid: $190,000
• Judgment: The court did not find the property abandoned
• Repairs needed: About $35,000

Mission 1: How long is the redemption period?

The court did not find the property abandoned. How long can the owner redeem?

• 6 months, then junior creditors may redeem in turns
• 30 days
• None: sheriff’s sales are final

Read the judgment in the court case: it says what’s being sold and whether the court found the property both abandoned and not used mainly for farming or grazing.

Mission 2: If someone redeems

The owner redeems after 5 months. What do you get?

• My price plus 8%, plus taxes or assessments I paid, with interest
• The property’s full value

Repairs aren’t in that list. Hold off on the $35,000 of work until the redemption periods end.

Would you bid $190,000?

Buy, investigate or pass? Work through the drill to see what an experienced investor would weigh.