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Pre-Foreclosure FAQ

WHAT IS A FORECLOSURE?

The ability to force a sale to collect a debt.

THREE TYPES OF FORECLOSURES

Trustee Sale for delinquent mortgages
Trustee Sale for Homeowner/Condo Association Dues
Constable/Sheriff’s Sale for delinquent Property Taxes

THE PROCESS:

Notice of Trustee Sale (Posting) must be filed at the County Courthouse 21 Days before the date of the Public Auction
Foreclosure Auction is held on the 1st Tuesday of every Month (Even on holidays)
Auction is held at the courthouse or desingated location from 10:00 am to 4:00 pm

North Texas County Foreclosure Auction Sites

Collin County
2300 Bloomdale Road
 McKinney, TX 75069
972-548-4185

Dallas County
133 North Industrial Blvd.
Dallas, TX 75207
214-653-7011
(or 214-653-7650 Dallas Co Admin Office)

Denton County
1450 East McKinney St
Denton, TX 76201
940-349-2000

Ellis County
101 W. Main St.
Waxahachie, TX 75165
972-825-5000

Grayson County
100 W. Houston Rd.
Sherman, TX 75090
903-813-4243

Johnson County
204 S. Buffalo Rd.
Cleburne, TX 76033
817-556-6323

Kaufman County
100 W. Mulberry Rd
Kaufman, TX 75142
972-932-4331

Parker County
117 Forth Worth Highway
Weatherford, TX 76086
817-598-6114

Rockwall County
1101 Ridge Rd.
Rockwall, TX 75087
972-882-0220

Tarrant County
100 W. Weatherford
Fort Worth, TX 76196
817-884-1111

Wise County
101 N. Trinity St.
Decatur, TX 76234
940-627-5535

CENTRAL TEXAS FORECLOSURE AUCTION SITES

Bastrop County
803 Pine Street
Bastrop, TX 78602

Bell County
550 East 2nd Street
Belton, TX 76513

Bexar County
100 Dolorosa
San Antonio, TX 78205
210-335-2216

Comal County
100 Main Plaza
New Brunfels, Texas
830-620-5513
830-620-5501

Guadalupe County
101 East Court
Seguin, Texas  78155
830-303-5501

Hays County
111 East San Antonio
San Marcos, Texas  78666
512-393-7330

McLennan County
501 Washington Ave
Waco, TX 76701

Travis County
1000 Guadalupe Street
Austin, TX 78701

Williamson County
710 South Main Street
Georgetown, TX 78626

WHAT IS THE SHERRIF’S SALE LIST?

The postings included in this report have been filed due to either delinquent property taxes or a judgment.

WHAT IF I PURCHASE A SHERIFF’S SALE PROPERTY THAT IS ENCUMBERED BY A MORTGAGE?If the lien was NOT mentioned, the property is still subject to any and all liens. That is why we advise that all interested buyers have a title search done on the property before the sheriff sale. If the lien is mentioned in the judgment (and the lien holder has not contested foreclosure), then all outstanding liens mentioned are terminated. HOWEVER, we do not offer any guarantees on the purchase of these foreclosed properties, and we strongly advise that a title search and thorough research are conducted before the sheriff sale. We also strongly advise anyone dealing with this type of property acquisition (sheriff sale) to consult an attorney before purchasing tax lien properties.

ARE PERSONAL CHECKS ACCEPTED FOR PAYMENT?

No, personal checks are not a valid means of payment for a property purchased at the auction.

IS PAYMENT IN FULL REQUIRED ON THE DAY OF THE SALE?

The judgment amount, the “minimum bid”, and all associated costs must be paid. However, the time allowed for the collection of adequate funds varies with the sheriff conducting the sale. Some allow 1-2 hours, while others require the full amount paid at the time the successful bid is made. Payment must be by cash or cashiers check. If the cashiers check is for more than the amount of the bid, the Sheriff will refund the excess money. Many people find it convenient to bring a cashiers check made out to themselves for the amount of the minimum bid and cash for any additional amounts they are willing to bid. If an investor is the successful bidder, then he /she can endorse cashier’s check to the Sheriff.

WHAT IS THE BIDDING PROCESS?

There is no formal bidding process. Bids are made consecutively by whoever can raise the last bid made. ALL sales will be to the highest bidder. The Sheriff reads the entire Order of Sale, announces the official minimum bid, and then asks for bidders. If you have requested that this property be offered for sale, you are obligated to offer the minimum bid to “open” the bidding. Should others raise the bid, you can then decide whether you want to bid against them.

WHAT IS THE MINIMUM BID I SHOULD EXPECT TO PAY?

The minimum bid varies from property to property. The exact minimum bid is determined on the Friday prior to the sale and is announced at the sale. We include the approx. minimum bid (judgment amount) determined by the taxing authorities and law firms.

DOES THE MINIMUM BID COVER ALL BACK TAXES?

NO, the minimum bid covers only the taxes for the years of the judgment. If additional years have become delinquent since the judgment, you are responsible for paying them. Properties may also have additional amounts due to code compliance charges, example weed and mowing liens. These charges must also be paid by the purchaser.

WHAT TYPE OF OWNERSHIP DOCUMENT IS ISSUED AT THE SALE?

The successful bidder on a property will be issued a Constable’s Deed within 4-6 weeks after the auction date. This Deed vests good and perfect title in the purchase to the interest owned by the defendant(s) in the property subject to the foreclosure. 34.01 (d) TEX. PROP TX CD. Ownership is free and clear of all interests and liens made a party to the judgment and all taxes for the years in interests not mentioned in the judgment.

WHAT HAPPENS TO PROPERTY NOT SOLD AT THE AUCTION?

Properties that do not sell are stricken off to the taxing units and are available for purchase at any time. A bid in writing is required including a property ID number, a description of the property, the bid amount and any reason for the bid amount if it is under the minimum bid. An offer for the minimum bid is automatically accepted unless other offers are on the table for that property, in which case an auction is rapidly set. In some instances a counter offer may be made.

WHAT IS THE REDEMPTION PERIOD?

All property sold is subject to statutory redemption periods. The redemption period is either 2 years or 6 months concerning non-homestead property (period begins with the day of filing of Sheriff’s deed), depending upon which version of 34.21 applies to the Judgment. During the first two years the redemption period, the previous owner may redeem the property from the buyer for the total purchase price, plus 25%. During the second year, the redemption price is the total purchase price plus 50%. This is the right of the former property owner. You must comply if asked to do so.

WHEN AND WHERE IS THE TAX SALE (SHERIFF’S SALE) HELD?

The Sheriff’s Sale is held on court house steps or designated location on the 1st Tuesday of every month and starts at 10am.

WHAT COUNTIES DO WE COVER?

NORTH TEXAS COUNTIES:
Dallas, Denton, Collin, Ellis, Grayson, Johnson, Kaufman, Rockwall, Tarrant

CENTRAL TEXAS COUNTIES:
Bastrop, Bell, Bexar, Comal, Guadalupe, Hays, McClennan, Travis, Williamson