Information On Foreclosure Auctions In Virginia

Where can I get the most up-to-date information about Virginia foreclosure sales?

To learn more about foreclosure sales, please refer to the applicable foreclosure notice of sale found on the property details page, or contact the Trustee or Foreclosure Sale Agent directly. Always double-check any information on foreclosure sales with the appropriate Trustee or Foreclosure Sale Agent.

What is the procedure for a Virginia foreclosure sale?

A public auction is held for a foreclosure sale, which is open to all bidders. At the event, the property is either sold to a third-party bidder or reverts to the beneficiary (Mortgagee, Bank, or Lender) as a Real Estate Owned (REO) Foreclosure. Please request a copy of the bidding regulations and thoroughly research the sale process by contacting the appropriate Trustee or Foreclosure Sale Agent.

When and where do foreclosure auctions take place?

The time and location of foreclosure sales may be determined by the County or by the Trustee or Foreclosure Sale Agent. For further information, please see the foreclosure notice of sale on the property details page or contact the Trustee or Foreclosure Sale Agent directly.

What should I bring to the foreclosure auction?

At the moment of sale, money are usually required to be paid in cash or by cashier’s check. It’s possible that personal checks, company checks, letters of credit, and credit cards won’t be accepted. For further information, please see the foreclosure notice of sale on the property details page or contact the Trustee or Foreclosure Sale Agent directly.

What if a Property is canceled or rescheduled?

A property’s sale may be canceled or postponed for a variety of reasons prior to the commencement of bidding at the auction. There is no certainty that a certain Property will be put up for sale. For detailed details, please refer to any foreclosure notices or contact the Trustee or Foreclosure Sale Agent directly.

Will the property be free of all liens and encumbrances?

No, most of the time. Many homes will be offered “as is, where is,” with all flaws and restrictions. All potential bidders are encouraged to undertake their own due diligence and research on all aspects of the Properties they are interested in purchasing. Prior to the sale, it is recommended that you seek independent guidance to complete your due diligence and gain a thorough understanding of the foreclosure process and foreclosure sales in general. Prior to the transaction, you must do a title search and seek any necessary guidance from counsel. For detailed information, please refer to the foreclosure notice or contact the Trustee or Foreclosure Sale Agent directly.

Is it possible for me to inspect the property?

No, because these properties are occupied, potential bidders are not permitted to intrude on the property, disturb the tenants, or contact the borrowers for information on the property.

Will a deed of sale be sent to me?

In the majority of cases, the successful bidder will obtain a deed after the transaction is completed. For detailed information, please refer to the foreclosure notice or contact the Trustee or Foreclosure Sale Agent directly.

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