Sheriff sale buying
Hi I was looking at a property that's going for auction due to tax foreclosure, I checked the title records and see the property is released by the mortgage company but it said that the debt was not fully paid I was wondering what happens to the remaining debt that was unpaid?
Also they want a bank check as stated If the property is a minimum bid then.
1. Bidding must be limited to $100.00 increments or multiples there of.
2. Bids that are less than $1,000 requires full payment of the sale price.
3. Bids between $ 1,000 & $ 10,000 require payment of $1,000 towards the sale price.
4. Bids over $10,000 require payment of 10% of the sale price up to a maximum deposit of $10,000.00.
....so would just taking a cashier's check for $7,500 be an easy way to do it? Sheriff sale I attended in the past accepted personal checks