Where can I find the most up-to-date information on foreclosure sales in Indiana?
Please refer to the applicable foreclosure notices or contact the Sheriff or Foreclosure Sale Agent directly to obtain information regarding foreclosure sales. Foreclosure notices are typically advertised in a newspaper of general circulation published within the county wherein the property is located.
Be sure to verify all information relating to the foreclosure sales with the appropriate Sheriff or Foreclosure Sale Agent. The following Foreclosure Sale FAQs were not developed in coordination with the Sheriff or Foreclosure Sale Agent. These FAQs are being provided for educational or informational purposes only; they are not intended to be a substitute for professional advice, whether legal, real estate or otherwise. The information provided is subject to change. Please ensure to refer to the foreclosure notice, any Sheriff or Foreclosure Sale Representative websites or contact the Sheriff or Foreclosure Sale Agent for the most current, up-to-date details regarding foreclosure sales. It is recommended that prospective bidders seek professional advice and carefully review the Sheriff or Foreclosure Sale Agent’s Terms of Sale and contact the Sheriff or Foreclosure Sale Agent to fully understand the foreclosure process and foreclosure sales.
What is the foreclosure sale process in Indiana?
A foreclosure sale is conducted via a public sale that is open to all bidders. The Property is either sold to a third-party bidder at the event or reverts back to the beneficiary (Mortgagee, Bank or Lender) as a Real Estate Owned (REO) Foreclosure. Please contact the appropriate Sheriff or Foreclosure Sale Agent to request a copy of the bidding rules and review the sale process in detail.
When and where do foreclosure sales occur?
The time and place of foreclosure sales are specific to the Sheriff’s Office. Please reference the foreclosure notice or contact the Sheriff or Foreclosure Sale Agent directly for specific information.
What do I need to bring to the foreclosure sale?
Typically counties require funds to be paid in the form of cash, bank money order or certified check at the time of sale. Personal checks, company checks, letters of credit, or charge cards may not be accepted. Be sure to reference the foreclosure notice or contact the Sheriff or Foreclosure Sale Agent directly for specific information.
What happens if a Property is cancelled or postponed?
The sale of a Property may be cancelled or postponed for many reasons prior to the start of bidding at the sale. There is no guarantee that a particular Property will actually be brought to sale. Please reference any foreclosure notices or contact the Sheriff or Foreclosure Sale Agent directly for specific information.
Will the Property be free and clear of all liens?
Typically no. Many Properties will be sold “as is, where is,” with all faults and limitations. All prospective bidders are encouraged to conduct their own due diligence and investigate all matters relating to the Properties that they are interested in purchasing. It is recommended that you seek independent advice to perform your due diligence and to fully understand the foreclosure process and foreclosure sales in general prior to the sale. Doing your homework pays off! It is your responsibility to do a title search and seek any needed advice from counsel prior to the sale. Please refer to the foreclosure notice or contact the Sheriff or Foreclosure Sale Agent directly for specific information.
Can I inspect the Property?
No, as these Properties can be occupied, prospective bidders may not trespass on the Property, disturb the occupants or contact the borrowers to obtain information about the Property.
Will I receive a deed of sale?
Under most circumstances, the winning bidder will receive a deed sometime after the sale is complete. Please refer to the foreclosure notice or contact the Sheriff or Foreclosure Sale Agent directly for specific information.
Does Indiana have a foreclosure redemption period?
Typically No. A redemption period may be imposed which could vary based on certain factors. During a redemption period the borrower may be able to redeem the premises. Please consult your real estate counsel or the Sheriff or Foreclosure Sale Agent for specific details regarding any possible redemption period that could be imposed in Indiana.