At the end of the foreclosure process, once all the notices have been sent and published and the trial is over, a public auction is held to dispose of the property. This is generally called a sheriff’s sale or trustee’s sale, and is the event during foreclosure where the borrowers ownership interest is transferred to the buyer at auction. But sheriff sales don’t always go smoothly, and homeowners may need to find out whether or not their home sold.

For example, if the lender canceled the scheduled sale for whatever reason, homeowners may believe that their property has been sold out from under them when, in fact, they still own it. Banks cancel auctions for a number of reasons, from not having done an inspection, to waiting for an appraisal, to a response through a request for more time from the borrowers themselves.

Another factor that can cause a judicial sale to be scheduled but not confirmed is if a third party bids on the home, wins the auction, but is unable to pay the purchase price. If this is the case, the property may need to be put up for auction again, in the hope of finding a more willing and able buyer. However, if this happens, the owners may not even know that the first auction didn’t count, as they assume the home was sold and paid for.

That’s why, after a sheriff’s sale, it’s important for homeowners to make sure their home was actually sold and properly confirmed by the county. If the property has not sold, borrowers can continue to live in their home until a valid auction is held. This can take an additional two to three months to schedule, perform and confirm, and owners can use all of this time to save more money.

There are several ways to find out if a property has been sold or if an auction has been confirmed. Possibly the easiest way is for homeowners to call the county recorder’s office or clerk’s office and ask them to provide information about who currently owns the property, as well as any liens on the property at this time. . If the bank bought it, there will most likely be no liens, but if a third party took out a loan to buy it, there may be a new mortgage affecting the deed.

This would be the easiest way to determine the status of the sheriff’s sale, since the county in which the property is located maintains all records affecting the property. If the foreclosure went through but there was a problem with the sale, they will be able to give that information to homeowners, while the court will be able to tell them if a new auction has already been scheduled.

But if no documents showing a transfer of ownership have been filed, the home may have to be put up for auction again at a later date. Especially if it’s a few months after the scheduled auction and no documents have been filed proving a transfer of title, it may indicate that the sheriff’s sale was invalid. This can be for any of the reasons listed above, but especially if the highest bidder couldn’t pay, the house can be put up for auction again.

Meanwhile, the original owners may still have possession and legal ownership rights to the property, just as they did during the foreclosure process. Under many state foreclosure laws, it is the confirmation of sale that ultimately transfers the property to the highest bidder at auction; if that has not been done in a particular case, the borrowers can still own the property for now.