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Understanding what happens after a foreclosure
In the event of a tax deed or mortgage foreclosure the county holds an auction on your property due to unpaid taxes or mortgage. The opening bid is for the amount of taxes or mortgage that is owed.
Many properties sell for an amount that is higher than the opening bid and any profit remaining is due to the previous owner.
The winning bidder receives a deed to the property, giving them full ownership.
The county then sends out notification letters of the surplus, but most of the time it's to the last address on record.
If the property sells for more than the owed taxes or mortgage the excess proceeds are held by the county.
We work directly with the county and our job is to assist you in filing this claim.