Sheriff's sale
A sheriff's sale is the public auction of a foreclosed home, run by the county sheriff and often held at the courthouse. Bidding is commonly cash only, and the home is sold as-is with no title guarantee.
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Part 1 of 5
Why a seller cares
The sheriff's sale is the auction at the end of a judicial foreclosure, cash only, as-is, no title promises. A seller meets it as the deadline; a buyer meets it as the riskiest way to buy a house.
Part 2 of 5
A simple example
The sheriff's sale is set for the first Tuesday in June on the courthouse steps. The lender bids the amount owed; if nobody bids more, the lender takes the home as REO.
| What happens at the sale | What follows |
|---|---|
| A third party outbids the lender | They own it, subject to any redemption period |
| Nobody outbids the lender | The home becomes REO and is listed by the bank |
| The sale is postponed | Common when a sale is pending; the lender asks the court |
The sheriff's sale is the lender collecting in public. Most of the time the lender is the only bidder.
Part 3 of 5
What people get wrong
That the auction price is the market price. It is the lender's debt or a little more, paid by whoever was standing there with cash.
Part 4 of 5
Common questions
What is a sheriff's sale?
It is the public auction of a home at the end of a foreclosure, run by the county sheriff. Bidding is commonly cash only, and the home is sold as it is.
What happens if nobody outbids the lender?
The lender takes the home back. It becomes bank owned, often called REO, and the bank lists it for sale.
Can a homeowner still sell before a sheriff's sale?
Often, yes. A sale that closes before the auction pays off the loan, and lenders commonly ask the court to postpone the auction while a sale is pending.
Part 5 of 5 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
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