After a moratorium from Fannie Mae expiry we are seeing a huge amount of foreclosure slated on the list for April 6, 2009 Master-In-Equity sale in Lexington County South Carolina. Or sheriffs sale as some states refer. There will be some 146 properties on file. Some will be pulled to try and work out the reinstatement of the Mortgage.
For those that have done there homework this can be a great way to buy a home at an unbelievable price. If you are the successful bidder on a property sold, you are required to deposit with the Master-in-Equity Court 5% of your total bid in cash, certified funds or money order by 4:00 p.m. on the day of sale (unless the notice of sale specifies a different time).
Judicial sales are conducted with Open (not sealed) bidding. At this point, it is not necessary to pre-register. However, if you are the successful bidder on a piece of property you will be required to stay and register after the sale.
If you have thought of trying to buy your next Lexington South Carolina homefrom the Lexington County SC Master-In-Equity be smart and contact a Realtor that knows the ropes. Have the property visually inspected and the records searched well in advance of the sale. I represent buyers at the sale often and have a keen knowledge of the process. It can be a great way to buy your next Lexington SC home!
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Copyright © 2009 by Laura Jefferson Lexington South Carolina's Realtor
Lexington South Carolina Real Estate, Columbia South Carolina Real Estate
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Chip Jefferson
Hey Laura ~ The moratorium was good while it lasted; afraid that the Dam is about to burst!