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Assuming we are talking about the US the auction process will vary by state. It can also vary based on the type of process (judicial or trust deed). The key is to look for the Notice Of Default that will be filed in the public records. It can be called other things in some states. The concept is the lender puts the borrower and all others who might have a legal interest in the property with formal notice that the lender is taking action against the borrower for back payments or other defaults of the contract. The parties will have X days to get it sorted or the property will be auctions. Some RE investors will go to the courthouse or recorders office every day to get a list of the new NODs filed. Others will get the info from a title company. The auction date will be listed but there are lots of reasons why the date might change. You need to track the info or otherwise stay on top of when the property might be auctioned. Note that other investors will be trying to work a bargain with the present owner so about 1/3 of the properties that are facing a foreclosure never get to auction. The problem is settled in some fashion before an auction can be held.
What else can I help you with?
Can you file bankruptcy on day set for foreclosure?
As long as the date and time stamp on your bankruptcy petition is prior to the time of the auction on the date for the auction, yes you can.
Are there any legitimate foreclosure auction websites?
prlog.org is one of the legitimate foreclosure auction websites.
How do you know if a foreclosure proceeding on your home has been initiated?
Generally you will be given notice by certified mail that a foreclosure action has been initiated. In most jurisdictions the notice will be published in your local newspaper for successive weeks and will include the date of the auction. Once the property has been sold at auction it is no longer your property. You should already know of the impending foreclosure by the late notices you will have received from the bank.
How do you know if a home is in foreclosure?
If you own the home, you should have received several notices that you were going to be foreclosed and then a notice that you were in foreclosure with a specific date and place for the auction. The notices vary from sate to state. Publication of the auction date is a requirement, usually in a local newspaper. If you are not the owner, you can look into local newspaper legal ads, local registry of deeds, specialized publications like Banker & Tradesman and local online websites.
How can I find house auctions?
You can find house auctions by checking online auction websites, contacting local real estate agents, attending foreclosure auctions at the courthouse, or searching for auction listings in newspapers or real estate publications.
What happens to homes in foreclosure?
The homes in foreclosure are sold at auction after notice and publication of the date, time and place.
Where can I find information on a foreclosure auction online?
You can find information about foreclosure auctions online by visiting www.auctions.com.
Can you file bankruptcy on day set for foreclosure?
As long as the date and time stamp on your bankruptcy petition is prior to the time of the auction on the date for the auction, yes you can.
how do i find a foreclosure auction in my area?
www.foreclosurelistings.com is one place to look
If I have a foreclosure date and notice of courthse. auction, and am not trying to stop the action, what do I need to know about evacuating the premises?
You need to know that as of the date of auction, you are to be out of the home and as of that date, you have no legal rights to the home any longer
Are there any legitimate foreclosure auction websites?
prlog.org is one of the legitimate foreclosure auction websites.
Do you get the best deal by buying a house at a foreclosure auction?
Yes, you get the best deal by buying a house at a foreclosure auction. You can read more at www.realtytrac.com/foreclosure/Auction/how-to-buy-homes-at-auction.html
What is the difference between a tax foreclosure auction and a bank foreclosure auction?
One is done by the IRS, and the other is done by your bank.
How do you know if a foreclosure proceeding on your home has been initiated?
Generally you will be given notice by certified mail that a foreclosure action has been initiated. In most jurisdictions the notice will be published in your local newspaper for successive weeks and will include the date of the auction. Once the property has been sold at auction it is no longer your property. You should already know of the impending foreclosure by the late notices you will have received from the bank.
Do I have to pay to see foreclosure auction listings?
Not usually. Most local governments have foreclosure sale listings on their websites.
How do you know if a home is in foreclosure?
If you own the home, you should have received several notices that you were going to be foreclosed and then a notice that you were in foreclosure with a specific date and place for the auction. The notices vary from sate to state. Publication of the auction date is a requirement, usually in a local newspaper. If you are not the owner, you can look into local newspaper legal ads, local registry of deeds, specialized publications like Banker & Tradesman and local online websites.
How can I find house auctions?
You can find house auctions by checking online auction websites, contacting local real estate agents, attending foreclosure auctions at the courthouse, or searching for auction listings in newspapers or real estate publications.
