Since we are not a party to your transaction and do not know the details of the auction and contract we are only able to speak in general terms. Those who represent you are the best sources.
I wish you all the best
If you opted to sell your home at an auction, speak with the auction house regarding the close of escrow and disbursement of funds. This is, unfortunately, something that only the auction house can answer for you.
If, on the other hand, the home was sold in a foreclosure auction instigated by the bank or mortgage company, getting proceeds from that sale can take as much as 90 to 120 days. Part of the delay is time to allow creditors to contact the bank regarding payment of unpaid bills and liens against the home. These can include anything from a second mortgage, unpaid state and federal taxes, property taxes, utility bills and any recorded claims against the former property owner--including legal fees of the attorneys. If the home was sold at auction by the bank, contact the company and attorneys offices listed on your foreclosure notice and speak with the settlement department. The settlement department might act more quickly if you can prove that no unpaid expenses will be brought to the bank for payment or that you have paid the bills personally.
Good luck! Talk to the auction house if a private sale or the attorneys office if a foreclosure to get more information regarding payment.
Allison James Estates and Homes
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Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
(516) 606-9648 Cell
(516) 740-4478 Office
(516) 918-5383 Fax
What if your house was severely damaged before the buyer could complete the purchase? You would have to return the money.
In zip 95138 homes took on average 15 days to sell in June. Look at the days on market at http://julianalee.com/zip-code/95138-statistics.htm
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