Finding the Uncommon Deal by Adam Leitman Bailey

Author:Adam Leitman Bailey
Language: eng
Format: epub
Publisher: John Wiley & Sons, Ltd.
Published: 2011-03-06T16:00:00+00:00

Chapter 8

Foreclosures and Bank-Owned Properties

FINDING A FORECLOSURE SALE

Foreclosure notices are typically posted at courthouses, clerk’s offices, town halls, and printed in newspapers. They list the property’s address, the date, time, and place when the bidding will occur and, sometimes, other relevant information such as the minimum acceptable bid, which is usually the amount owed on the mortgage loan. Though the location of the auction varies widely depending upon the state in which the property is located, bidders will frequently meet at the entrance to the property itself, or on the courthouse steps, or be directed to a room somewhere else. I have seen foreclosure sales with crowds standing in the room at convention sites, and others with only two or three people in attendance. While gavels are traditional in some places, in no state does the law require them.

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