Foreclosure in 33009>Question Details

ertsiger77, Home Buyer in 78250

If the final judgement amount on a foreclosed property is $169000 and the assessed value is $75000, then I won the property in foreclosure auction for

Asked by ertsiger77, 78250 Tue Feb 4, 2014

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3
Danielle Sharp’s answer
The assessed value and judgement amount are not related. In a foreclosure sale, the judgement amount is that which was owed by the previous owner and foreclosed upon. Assessed value is what the county property appraiser uses to figure annual property taxes.
0 votes Thank Flag Link Wed Feb 5, 2014
Assessed value has to do with how the county views the value of the property.
This value is used as a base (before specific person related adjustments like homestead etc.)
for taxes.

Final judgment amount is not final at an auction.
Whoever offers more, wins. Plus, 5% buyer's premium.
Banks do participate in auctions also.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Thu May 8, 2014
For the amount you bid t the auction, plus any charges or fees that the auctioning company charges, and of course all closing cost. Your agent should be able to explain in more details.
0 votes Thank Flag Link Wed Feb 5, 2014
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