Asked by Mkman, Collier County, FL • Thu Dec 23, 2010
My daughter wants to buy a home at sherriff sale in Collier County Florida. The owner has two mortgages on the property. First mortgage is Wachovia and the second is with Wells Farge, both are now the same bank. Wells Fargo filed for the foreclosure. If my daughter bids $150,000 at the sherriff sale and wins the bid, who has to pays the bank for the difference between $150,000 and the $219,000 owed on the property? There are no other liens on the property. Will my daughter be given a clear deed to the property? My daughter is going to pay cash at the sale.
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