Anyone know how sheriff sales work?
Moms View Message Board: General Discussion: Archive May 2004:
Anyone know how sheriff sales work?
A house in my parents neighborhood is up for sheriff's sale in June because they didn't pay their taxes. Can anyone tell me how it works when a place is put up for sheriff's sale? Do you just pay the taxes? That is what my parents think but I feel like you'd have to assume the balance due on the mortgage too. Thanks for any info that you can provide.
This is a good explanation. http://www.trel.com/sherriff.html
Thank you so much! This is very helpful and I'm printing it out for my parents. Thanks again!
And, in some states the owner of the property can overturn the sale within a specific time period by reimbursing what was paid by the successful bidder and all the other costs and liens. Doesn't happen very often, but it can happen. And, if the mortgage company or sheriff's office messed up in any way, or can be perceived to have messed up, the former owner or a member of their family may sue to overturn the sheriff's sale and tie the property up in court for months or years, while the "successful" bidder can do nothing but get a lawyer and wait.
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