FAQS

Please review these frequently asked questions for more information regarding foreclosure sale information.

Click through the below tabs to find answers to frequently asked questions.

Note that there are general questions and answers for all states in which we practice in addition to information that is specific to individual states and/or file types. Please review the state-specific tabs for additional details on properties located in those states.

May I have the reinstatement or payoff amount? Foundation Legal Group will not provide confidential information relating to the borrower or the defaulted loan to any third party who is not listed on the loan documents, unless explicit written authorization by the borrower is received by Foundation Legal Group.

May I have a copy of the title work? No. The title work is the property of our client.

Do you maintain a list of upcoming foreclosure auctions? Please visit thefoundationlegalgroup.com/upcoming-foreclosure-sales to view a list of upcoming foreclosure auctions, including their dates, times and locations. Foundation Legal Group makes no representations or warranties that the properties listed on this website will be foreclosed on the dates indicated or at any other time. Sales may be postponed at any time before auction. Foreclosures may also occur on properties that are not listed on this website.

How may I purchase this property prior to the foreclosure sale date? If you are interested in purchasing the property prior to the foreclosure sale you MUST contact the individual who owns the property. The mortgage company does not own the property and cannot sell the property or provide to you any information regarding the payoff amount. Neither the mortgage company nor this office can provide any specific information regarding the mortgage or the foreclosure to anyone other than the borrower. In the event that you are purchasing the property from the owner you will be responsible for ensuring that the closing is completed prior to the sale date and sufficient funds are tendered to the mortgage company to pay off the loan in full. The tendering of funds to the owner of the property does not stop our sale. The mortgage company must receive the funds prior to the sale date.

If I purchase the property at the foreclosure sale, will the title be clear? All properties are sold “as is”. It is the individual investor’s responsibility to obtain a title search for any outstanding mortgages, liens or taxes due. Foundation Legal Group does not warranty title, marketability or occupancy.

May I view the property prior to the sale? Foundation Legal Group represents the lender, and as such, we do not have the authority to allow a viewing of the property prior to the foreclosure sale. Viewings must be arranged with the property owner.

What do I need to bring to the auction with me? Foundation Legal Group cannot advise you as to what you should or should not bring to the sale.

How do I go about bidding on the property? If you are interested in the property, you will need to appear at the location described in the publication on the day of sale and enter a bid using the type of funds specified in the Notice of Default or Notice of Sale.

If I am the successful bidder, when will I receive a deed to the property? You will receive a deed after our office receives funds in the amount of the purchase price. The deed will be delivered via overnight to the address provided to us at the time of sale. Costs of mailing the deed will be paid by the purchaser. It is the successful bidder’s responsibility to record the deed in the appropriate county.

Who is responsible for the taxes? The purchaser at sale is responsible for paying the taxes.

May I have the keys to the house? Foundation Legal Group does not have keys to the house.

Who handles the evictions? The successful purchaser is responsible for evicting the occupants, if needed.

Do you maintain a list of upcoming foreclosure auctions? Please visit thefoundationlegalgroup.com/upcoming-foreclosure-sales to view a list of upcoming foreclosure auctions, including their dates, times and locations. Foundation Legal Group makes no representations or warranties that the properties listed on this website will be foreclosed on the dates indicated or at any other time. Sales may be postponed at any time before auction. Foreclosures may also occur on properties that are not listed on this website.

When is the bid final?

In North Carolina, there is a 10-day confirmation period where each person’s bid must stand before it is final. Each time a new bid is placed during this confirmation period, a new 10-day confirmation period begins.
In South Carolina, the bid is final on the day of the sale unless a deficiency is demanded.

Can your representative wait while I get the funds from the bank?

North Carolina: No. You must bring certified funds with you to deposit with the trustee after the sale. You cannot leave after the sale is held to obtain certified funds for your deposit with the trustee. If you are unable to produce certified funds after the sale, you may file an upset bid during the confirmation period.
South Carolina: Please consult the Notice of Sale and Court's office for payment requirements.

May the opening bid be provided prior to the sale? You may visit thefoundationlegalgroup.com/upcoming-foreclosure-sales for a list of upcoming foreclosure auctions, including their dates, times and locations. For North Carolina and South Carolina, opening bid amounts are posted on the sales website which can be accessed via the link above, and selecting either South Carolina or North Carolina.

How much is the deposit? The deposit must be 5% of your bid or $750.00, whichever number is greater. Please note: when you place a bid, your deposit must be in the form of certified funds.

Do you maintain a list of upcoming foreclosure auctions? Please visit thefoundationlegalgroup.com/upcoming-foreclosure-sales to view a list of upcoming foreclosure auctions, including their dates, times and locations Foundation Legal Group makes no representations or warranties that the properties listed on this website will be foreclosed on the dates indicated or at any other time. Sales may be postponed at any time before auction. Foreclosures may also occur on properties that are not listed on this website. The sale held may be rescinded at the successor trustee’s option at any time. And the right is reserved by the successor trustee to adjourn the day of the sale to another day, time and place.

When is the sale final?

In Arkansas, the sale is final with the recording of the deed.
In Mississippi, the sale is final at the conclusion of the sale.
In Tennessee, the sale is final at the execution of the deed.

Can your representative wait while I get the funds from the bank? No. You must bring certified funds with you to deposit with the trustee after the sale. You cannot leave after the sale is held to obtain certified funds.

I am interested in buying this property. How can I find out how much the property is worth before I decide to bid on it? For AR, TN, MS properties, Foundation Legal Group does not conduct the foreclosure sale. Typically, a third party conducts the sale of the foreclosure property on behalf of the lender as provided for in the Notice of Default and Intention to Sell or the Notice of Sale.

How can I contact the owners to buy the property from them before the sale? Foundation Legal Group will not provide confidential information relating to the borrower or the defaulted loan to any third party who is not listed on the loan documents, unless explicit written authorization by the borrower is received by Foundation Legal Group. Borrowers and their authorized representatives are entitled to obtain information pursuant to state and federal law.

May the opening bid be provided prior to the sale? Foundation Legal Group does not provide opening bid amounts to third parties in advance of auction. However, you may visit thefoundationlegalgroup.com/upcoming-foreclosure-sales for a list of upcoming foreclosure auctions, including their dates, times and locations.

If I am the successful bidder at sale, may I have the vesting on the deed changed from the vesting information I provide at sale? No. The deed will be titled based on the vesting information provided on the sale form completed at the time of sale.

How long do I have to get the funds to your office and what form of payment is required? If you are the successful purchaser at auction, funds must be submitted to the auctioneer at the conclusion of the auction by wire transfer or hand delivery in the form of certified check or money order. Pre-qualification letters will not be accepted as tender in exchange for the deed. The full amount must be tendered at the conclusion of the sale in certified funds.

Can the time be extended to get the funds to your office? Foundation Legal Group will confirm with our client whether or not it will agree to extend the time to tender the funds. Once we have confirmation from our client, we will notify you if the extension is granted.