How is the opening bid at a foreclosure auction determined?
The opening bid at a foreclosure auction is based on the total amount owed to the foreclosing lender, interest incurred, late charges, penalties any liens placed on the property by other institutions, and may include fees incurred because of the foreclosure proceedings. If no one at the auction places a bed above the opening bid amount the foreclosing lender gains possession of the property.
The opening bid at a foreclosure auction is based on the total amount owed to the foreclosing lender, interest incurred, late charges, penalties any liens placed on the property by other institutions, and may include fees incurred because of the foreclosure proceedings. If no one at the auction places a bid above the opening bid amount, the foreclosing lender gains possession of the property.
The opening bid at a foreclosure auction is based on the total amount owed to the foreclosing lender, interest incurred, late charges, penalties any liens placed on the property by other institutions, and may include fees incurred because of the foreclosure proceedings. If no one at the auction places a bid above the opening bid amount the foreclosing lender gains possession of the property.Buyers at the sale must come prepared to pay with cash or cashiers check for the total amount of the sale price.
The opening bid at a foreclosure auction is based on the total amount owed to the foreclosing lender, interest incurred, late charges, penalties any liens placed on the property by other institutions, and may include fees incurred because of the foreclosure proceedings. If no one at the auction places a bid above the opening bid amount the foreclosing lender gains possession of the property.
