Potential homebuyers should contact their REALTOR® to find out about foreclosed properties in the area. Successful bidders are required to provide a CASHIER’S CHECK for exactly 10{6ea1d85b87534fab6e24031f499cc2ede23940dcd11dcec5d1566c72a09a2c6a} (ten percent) of the winning bid price, before 1:00pm on the first business day that follows the sale date, at the TCSO Civil Desk, located in the Tulsa County Courthouse. As Bryant glances over a description of a fenced home with large trees on its front lawn, she guesses it’s pending a cash sale.
As in judicial sale, the mortgage holder and other lien holders are respectively first and second claimants to the proceeds from the sale. However, with judicial foreclosure the previous owner has up to one year to redeem his property by paying the foreclosure sale plus interest and any additional expenses incurred by the lender.
Buying foreclosed properties at the courthouse can be very dangerous for those who do not …