What happens at the foreclosure auction?
All foreclosure sales are held on the first Tuesday of the month (including holidays) at the County Courthouse, and are open to everyone. The lender representative, will stand on the steps of the County Courthouse and will announce the opening bid, and an open auction will begin for the property.
The sale of the foreclosed property will be awarded to the highest bidder for cash. The bidding will start at the request of the lender representative generally for the amount of the debt, or a lesser amount. A bid higher than the lender's bid will buy the property. Following, the title of the property will be transferred to the highest bidder.
The sale of the foreclosed property will be awarded to the highest bidder for cash. The bidding will start at the request of the lender representative generally for the amount of the debt, or a lesser amount. A bid higher than the lender's bid will buy the property. Following, the title of the property will be transferred to the highest bidder.