Foreclosure in Wauwatosa>Question Details

jcampwi87, Home Buyer in Wauwatosa, WI

how do i find the auction house for a forclosed property?

Asked by jcampwi87, Wauwatosa, WI Tue Nov 13, 2012

The property is a bank forclosure that is set for auction, but I cant find who the auctioneer is

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There are two types of potential foreclosures: judicial foreclosures and non-judicial foreclosures. Judicial foreclosures require that a court approve and oversee foreclosure auctions. Non-judicial foreclosures allow the lender, whether a bank, government agency, or private lender, to schedule, arrange, and oversee a foreclosure auction on their own.

Depending on whether the law in your state requires judicial foreclosures or not, foreclosure auctions will either be held by a representative of the court, such as the County Clerk or Sheriff, or a trustee of the lender, usually a lawyer or representative of the bank or government agency.

Read more: How Does a Foreclosure Auction Work? - Foreclosure Homes on Sale…
0 votes Thank Flag Link Wed Nov 14, 2012
Homes in foreclosure that make it to auction are typically auctioned by the sheriff's department of the county the property is located. If the property is already bank owned, properties are typically marketed by real estate agents. Some of these go to auction. To find out who the auctioneer is you would likely need to call a real estate agent. I see foreclosure in Wauwatosa, so it would likely be the milwaukee county sheriff's department. They have a website listing upcoming sales which are held every Tuesday. There are currently 381 on the list. Only a portion actually make it to sale with the majority purchased by the party foreclosing.
0 votes Thank Flag Link Tue Nov 13, 2012
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