Finding the most up to date information on Foreclosure Auctions in Arizona
Verify all foreclosure sale details with the proper County or Foreclosure Sale Agent. The following Foreclosure Sale FAQs were not created in collaboration with the County or the Foreclosure Sale Agent. These FAQs are given solely for educational and instructional purposes; they are not intended to replace professional advice, whether legal, financial, or otherwise.
What is a Foreclosure Auction?
A public auction is held for a foreclosure sale, and is open to all bidders. As is usually the case, the property is either sold to a third-party buyer or reverts to the beneficiary (Mortgagee, Bank, or Lender) as a Real Estate Owned (REO) Foreclosure. Please request a copy of the bidding rules and thoroughly review the selling process by contacting the appropriate County or Foreclosure Sale Agent.
Where can I find out the details of when and where these auctions occur?
Foreclosure sales take place at different times and locations depending on the county. For more details, please visit the website of the appropriate County or 3rd Party Foreclosure Sale Agent or contact the County or 3rd Party Foreclosure Sale Agent directly
Can the property be postponed or even cancelled?
A property’s sale could be canceled or postponed for a variety of reasons prior to the start of bidding at the auction. There is no assurance that a specific Property will be put up for sale. For more details, please visit the website of the appropriate County or 3rd Party Foreclosure Sale Agent or contact the County or 3rd Party Foreclosure Sale Agent directly.
Will there be liens on the property?
No, most of the time. The properties will be sold “as is,” with all flaws and limitations. All potential bidders are encouraged to do their own due diligence and research into all aspects of the Properties they are interested in purchasing. Prior to the sale, it is recommended that you obtain independent counsel to complete your due diligence and gain a thorough understanding of the foreclosure process and foreclosure sales in general. It pays to do your homework! On the Property description pages for certain properties. Prior to the sale, you must conduct a title check and request any necessary advice from counsel.
Can I inspect the property beforehand?
No, since these properties are occupied, prospective bidders are not permitted to trespass on the property, harass the owners, or contact the borrowers for details about the property. You may also complicate the foreclosure, which could cause the sale to be postponed.
Is there a redemption period?
Not usually in the state of Arizona. A redemption period may be enforced, which may vary depending on the circumstances. The creditor may be entitled to redeem the property during the repayment period. For clear information on any potential redemption period levied in Arizona, please contact your real estate attorney or the County or 3rd Party Foreclosure Sale Agent.