What happens when the house I am renting goes up for sheriff sale?

Until the gavel falls at the sheriff sale, the current owner can exercise all rights incident to ownership of the property.  That would include the right to sell the property to you.  If you can pull off a sale before the scheduled sale, you can certainly end up with the property. You'd be well-advised to involved whatever creditor has out the house into foeclosure in the sale process to ensure the debt is paid off.  Sometimes the value of the liens on the property exceeds its value.  If that's the case for this property, then buying it probably doesn't make sense.  You can also bid on the house at the sale but you'll have to bid enough to pay all liens on the property and you'll have to come up with a deposit on the day of the sale plus the balance 30 days later.  If you do decide to try and buy the property. retain an attorney to conduct a title search and examination of the property before you pay the seller any money.