***FORFEITURE RIGHT OFFERING***
ATTENTION: This offering is only for potential future rights the creditor may obtain.
This property is in tax foreclosure and will be sent to a foreclosure auction with an approximate minimum bid requirement of $50,000. If the property does not sell at foreclosure auction for the minimum bid, it may be forfeited to the judgment creditor by the court. The judgment creditor in this case is offering to pre-sell its potential future rights in this property now. The judgment creditor is only offering its potential future rights in this property.
The process works like this…
- Submit an offer on the property listing page above.
- Your offer will be accepted, countered or rejected.
- If your offer is accepted, you’ll execute a written agreement and pay a deposit.
- The property will then be sent to foreclosure auction with a court ordered minimum bid.
- a) If the property does not sell at foreclosure auction the judgment creditor’s rights to the property will be conveyed to you. b) If the property does sell at foreclosure auction, or if the property owner redeems the property, then the agreement you signed is automatically terminated and your deposit will be promptly returned. You can always participate in the foreclosure auction and are encouraged to do so.
Please keep in mind…
- The judgment creditor does not own this property.
- The judgment creditor is only offering its potential, future rights in the property.
- If the property sells at foreclosure auction then any Make an Offer agreement will be automatically terminated, with any deposit paid by the Make an Offer bidder returned.
- There are many events that could occur that could cause your Make an Offer agreement to be automatically terminated. Examples include, but are not limited to someone purchasing the property at foreclosure auction, a defendant satisfying their debts, a property owner redeeming and the foreclosure case being dismissed, or a defendant filing bankruptcy.
- Read, understand and seek legal advice on the agreement you will be required to sign.
- The property will be conveyed by quit claim deed, sheriff’s deed or private selling officer’s deed.
- Deposits paid are non-refundable, UNLESS the property is sold to another party at judicial sale, or the property owner redeems the property.
- There are NO contingencies permitted on Make an Offer properties. Complete your due diligence, including title exam, BEFORE you offer.
- Showings are not permitted on Make an Offer properties, unless otherwise noted on that specific property’s sale page.