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What To Expect After a Foreclosure Sale


When a home is sold at a foreclosure sale, the new owner generally takes possession immediately. The previous owner no longer has any rights to the property and must vacate the premises. Foreclosure sales are typically conducted by the sheriff or a court-appointed official and are open to the public. The winning bidder pays the outstanding mortgage balance plus any other fees associated with the sale.


If you're considering purchasing a foreclosed property, it's important to understand what you're getting yourself into. Here's what you can expect after a foreclosure sale:


The previous owner will no longer have any rights to the property and will be required to vacate the premises immediately. The new owner will take possession of the property immediately following the sale.


The foreclosure sale will be conducted by either the sheriff or a court-appointed official, and it will be open to the public.




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