Prior to the date of the sale, the mortgage company will submit a bid in the amount they are looking to recover from the sale. To be successful in purchasing a property, you must bid higher than the amount the mortgage company has placed on the property. If you successfully bid on a property, and satisfy the minimum bid, the amount of the bid in full needs to be brought to the Black Hawk County Sheriff's Office no later than 4:15 pm the day of the sale. This amount must be in either, cash, cashier's check or money order. If you fail to furnish the complete amount, you may be subject to a lawsuit from the bidding mortgage company for the full amount of the bid.
No comments:
Post a Comment