Quick Question/ Sherrif's Sales!!!
I have the list of properties for the upcoming sherrif's sale. In the last column on the right hand side, the are two figures. One is the Debt amount (which I'm assuming is the loan balance) and the second says "all costs"
Costs of what???
The other question is, if I'm going to purchase one of these homes than, I assume all of the debt, correct??
Thanks in advance
Chris1220
You pay what you bid. The costs are court costs such as the cost for the sheriff for serving notice etc. You pay both your bid and costs.
Go to a few sales and see what goes on. After the sale ask questions on the things you don't understand. They will be happy to help.
Some properties will not go on sale that day because of different reasons. Ask about STAYS and CONTINUANCES.
Thanks. So let me get this straight. I DO NOT assume ANY debt when I purchase a property at a Sherrif's Sale... correct??