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Buying a Foreclosure |
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We found a house that is going into foreclosure. It is owned by the AL Dept of Rev. Does the successful bidder get the entire contents of the house with the bid or are they usually auctioned off separately? |
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What was pledged as security for that mortgage loan being foreclosed was the real estate. That means the land itself, and everything permanently attached to the land that has become part of the real estate -- fences, trees, sewer line, house, driveway, garage. Furniture, though, is personal property, not real property. It does not go with the house. The lender has no claim on it, and neither would whoever bought the property.
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Edith
Originally published on October 15, 2007 |
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