Foreclosure Answers

What time is the auction going to be held by Stanley & Associates?

Between 11 am and 4pm

Can I purchase the property before the foreclosure sale?

No

Can I enter and inspect the property prior to the foreclosure?

No

Where will the auction be held?

County Courthouse steps

Can I pick up the executed foreclosure deed and record the deed myself?

No

Can I enter the property as soon as the sale is over?

No

How does the foreclosure auction process work?

It is not complicated but there are steps you need to follow.  You can buy a book, take a class from the one reputable investment coach in Alabama, or schedule an attorney consultation with us at (205) 451-4196.

What date will the sale be held?

As listed in the notice

Is the property occupied and, if so, by whom?

 We cannot confirm occupancy, but it may be available elsewhere

I think a property I am interested in is about to go into foreclosure, can you…

No

What is the opening bid?

If it wasn’t published, the lender didn’t tell us and it will be announced when we find out.

What is the lender’s best/highest bid?

The law firm cannot release this information.

What do I need to bring with me to sale?

Identification and, if you win, typically $5000 nonrefundable certified funds will be due at the time of the sale. You will have 24 hours to pay the balance of the sale. If you do not pay the balance within 24 hours, you do not get the $5000 back and we offer the property to the next highest bidder.

To whom do the certified funds need to be made payable?

Typically, the law firm handling the sale.  That is at the bottom of the notice.

I purchased a property at the foreclosure sale which was held by your firm. When will I receive my deed?

Other firms handle this differently, but The Stanley & Associates, LLC auctioneer signs the foreclosure deed within 24 hours of the payment clearing and records the deed within another day. We will offer to assess the property for you if the specific county allows it.

May I receive a copy of the recorded deed as soon as it is recorded, before you receive the original back from the County?

It takes a day, so you will have a soft copy almost immediately.

When can I enter the property?

Depending on occupancy and whether the property is secured or abandoned.  Please schedule a consultation with Holly@Stanley-Law.com 205.451.4196

When can I remove the people occupying the property or remove their personal property?

There are several tactics we have used after foreclosures, but if all else fails you may have to sue in ejectment.  Please contact Holly@Stanley-Law.Com to schedule a consultation with an attorney about possession options, timelines, and costs.

Are there any liens on the property that survived foreclosure? Was the loan that was foreclosed in first position? Are there any delinquent taxes?

The auctioning attorney cannot tell you this, as the notices say: “Your purchase of this property will be “AS IS.”   You can get a title binder or attorney title report, or research that yourself before the auction. 

I purchased a property at the foreclosure sale and now it appears there are municipal liens. What am I responsible for?

See above, it would be irresponsible for anyone to answer this question without a title binder or an attorney title opinion on the specific property.   Please remember that you purchased the property AS IS.

DISCLAIMER: Buying foreclosures is buying property with no guarantee of title. Do your own due diligence. Stanley & Associates, LLC is providing this FAQ to you as a courtesy and for informational purposes only. This information does not constitute, nor should it be construed as legal advice or legal opinions and should not be relied on as such. This information is not guaranteed to be correct, complete, or up to date. We strongly urge you to seek legal counsel from to discuss any issues or additional questions you may have about the process or the risks involved. Should anything in this FAQ conflict with a published notice of sale, the notice of sale shall control.