What documents should I expect as the winning bidder?

Upon payment in full, the winning bidder will receive a Receipt of Sale and Certificate of Sale. Neither is a deed to the property. The winning bidder will receive a deed to the property once the sale is approved by the Court. Court approval usually takes 30 to 90 days.

Who gets the sale approved?

The attorney representing the plaintiff will file a motion to approve the sale. This could take weeks and sometimes months to get on the judge’s motion call. The Judicial Sales Corporation is not responsible for getting the sale approved. Winning bidders will most likely get a notice from the plaintiff’s attorney with information regarding the court hearing.

What happens if the Judge doesn’t approve the sale?

If the court decides not to approve the sale, the bidder will receive full return of funds deposited per the court order.

How soon will I get possession?

Winning bidders will get possession usually 30 days from the date of the order approving sale hearing. Possession is always at the courts discretion.

What happens if the occupants refuse to vacate the property?

It is the winning bidder’s responsibility to handle any eviction, if applicable, and bear the cost of the eviction.

How do I obtain the deed and who records it?

Once the sale has been approved, the winning bidder, or its assignee, must surrender the original certificate of sale to The Judicial Sales Corporation along with a certified copy of the order approving sale in exchange for the deed. The legal holder of the deed is responsible for promptly recording the deed.

Will liens and encumbrances on title be extinguished after the foreclosure sale?

The Judicial Sales Corporation does not complete a title search and makes no guarantee to title. It is recommended that investors do their due diligence and/or contact their own attorney to make a wise decision when buying at a foreclosure sale.