The real property named in the judgment and decree of foreclosure is sold at a public auction conducted by the sheriff of the county where the property is located. The highest bidder wins the auction, and the proceeds are applied to the judgment amount less various costs of the sale.
How do I stop a sheriff sale in Indiana?
Filing an Indiana Bankruptcy will stop a sheriff sale. Filing a Chapter 7 or Chapter 13 Bankruptcy in Indiana can stop a Sheriff Sale even after it has already been set. By filing a Chapter 7 Bankruptcy, it will postpone the Sheriff Sale.
What is a sheriff’s deed in Indiana?
a deed of conveyance for the premises, which must be valid to convey all the right, title, and interest held or claimed by all of the parties to the action and all persons claiming under them. The sheriff shall file a return with the clerk of the court.
How do I buy a tax sale property in Indiana?
How to Buy a Tax Sale Property in Indiana
Can you make an offer on a house before it goes to auction?
Most auction teams will welcome pre-auction offers, and if you are really interested in purchasing the property, then a prior offer is a good idea. If agreed, the purchase will take place under auction rules with an exchange well in advance of the auction day. ...
How do you buy a house before auction?
Making an offer prior to the auction You can make an offer (which should be in writing, by fax or by email) for a property at any time up to the date of the auction, but if your offer is accepted you will have to be in a position to exchange contracts and pay your deposit immediately.
Why are pre-foreclosure homes cheaper?
Pre foreclosures are off market properties and are not listed on the ML, meaning less competition from other buyers. Since pre foreclosures are usually sold below market rates, they tend to be exceptional deals.
How accurate is Zillow pre foreclosure?
It is inaccurate information that is simply a ploy to collect your contact info. I don’t think Zillow should post these properties as pre-foreclosures until the sheriff’s sale has actually taken place. It is very misleading. So if you see any pre-foreclosures on Zillow, remember the high chance of inaccuracy.
Why are there so many pre foreclosures on Zillow?
Most often, homes listed as “pre-foreclosures” on Zillow are properties where the lender has initiated foreclosure proceedings because the owners are behind on their mortgage payments. It simply means they are behind on their payments. Foreclosing on a property can be a lengthy process.
Is it hard to buy a house in pre foreclosure?
The pre-foreclosure stage can yield some real bargains, but most experts agree it’s the most difficult stage during which to purchase a distressed home. The owner may be working to cure the default, or they may be hoping for a pre-qualified cash buyer to help them avoid the impending foreclosure.
Is pre foreclosure the same as short sale?
Pre-foreclosures are also often in the same condition as Foreclosures but will take less time to acquire than a short sale. Both are sales conducted by either the owner or a real estate agent. The difference is that with a short sale, the bank is involved and may reject offers accepted by the owner.
