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GENERAL INFORMATION on MORTGAGE FORECLOSURE SALES
The following is intended to provide some general information regarding mortgage
foreclosure sales and information on how such foreclosure sales will be
conducted by the Macomb County Sheriff’s Office. Anyone wishing to participate
in a mortgage foreclosure sale should seek information regarding the statutes
and case law regarding these matters from their own personal attorney. This
document is not intended to nor should it be relied upon by any individual as a
full explanation and enumeration of one’s legal rights, responsibilities, duties
or obligations. PLEAE CONSULT YOUR OWN ATTORNEY.
General Information
Foreclosure sales are scheduled by the lender/lender’s attorney, not
the Sheriff’s Department. Foreclosure sales are usually scheduled at 10:00 a.m.
every Friday that the Circuit Court building is open.
In the State of Michigan, foreclosures by advertisement must be published in a
newspaper in the County where the foreclosed property is located. Notices are
published for a minimum of four weeks with the last publication frequently
being, but not required to be, the week prior to the scheduled sale date. Legal
notices are sometimes canceled by the lender/lender’s attorney during the
publication period and sometimes sales are canceled between the time of the last
publication and the actual sale date.
Bidders should also be aware that sales are sometimes adjourned from the
original sale date as published. These adjournments are posted in the basement
of the Circuit Court Building. Adjournments can be made for a maximum of one
week at a time; however, some sales are adjourned on a week-to-week basis. It is
the responsibility of an interested bidder to check to see that any particular
property he/she is interested in is still scheduled for sale on a particular
day. Bidders may check at the sale area to see if the certain property is listed
for sale on that day, or if the sale has been canceled or adjourned.
Payments
There are no payment arrangements for the foreclosure sales. THE TOTAL
AMOUNT OF EACH SUCCESSFUL BID MUST BE PAID FOR BY A CERTIFIED OR CASHIERS CHECK.
Bidders should have certified checks made payable to themselves. If not
successful, the bidder can return the funds to his/her bank.
Bids
In most cases, the minimum bid for each property is higher than the amount
listed in the legal notice. The debt listed in the legal notice is the amount
that is due as of the date of the notice. Interest and various other costs are
added to that amount to form the minimum bid on the sale date. Bidders
will be required to show their check for the minimum bid amount at the time a
bid is placed. Please have checks ready for viewing.
Legal Advice
There are many ramifications involved when dealing with mortgage
foreclosure sales. Each bidder is strongly advised to obtain legal advice about
his/her rights and responsibilities from an attorney who is familiar with real
estate law, and in particular, with mortgage foreclosures. A very thorough
search of the title of the property you are interested in should be made. Staff
and members of the Macomb County Sheriff’s Office, Civil Division and Writs,
Inc. are not attorneys and cannot and will not provide legal advice. Any
questions about redemption rights, liens or any other information regarding the
legal aspect of the foreclosure sale should be obtained from a trained
professional. Most bidders are investing a great deal of money on the foreclosed
property, and it is reasonable and prudent for anyone investing such monies to
obtain competent advice.
Completion of Sale
Once the sale is completed, Sheriff’s Deeds are issued and recorded with
the Macomb County Register of Deeds. These documents are a matter of public
record and anyone seeking information about a recorded Sheriff’s Deed can do so
at the Register of Deeds, 2nd Floor, Macomb County Building. Redemption of
foreclosed properties are handled through the Register of Deeds Office.
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