ACSO - Real Estate - Notice to Real Estate Agents

When you are representing a client who may be attempting to purchase a parcel of property that may have been foreclosed on by a lender, and sold at Sheriff’s Sale, it is advised that you, on behalf of your client, make sure that the foreclosing lender HAS THE DEED.

There have been many occasions when you have arrived at the closing of a sale only to find out that the foreclosing lender has not paid the Sheriff to process the deed transfer. This causes many problems.

Although the Sheriff understands your situation and the necessity to have a deed prepared, the deed you may be inquiring about will not be prepared until it is paid for.

Upon receipt of payment, the deed is then placed in its proper order to be prepared.

In many instances, a plaintiff’s representative does not submit payment in a timely fashion thereby causing a serious problem for you and your client.

MAKE SURE THAT THE FORECLOSING AGENCY HAS THE DEED.