What Is a Sheriff’s Sale?
A sheriff’s sale is a public auction at which property that he been defaulted on is repossessed. The proceeds from the sale are used to pay mortgage lenders, banks, tax collectors, and other litigants who have lost money on the property.
Sheriff’s sales happen at the end of the foreclosure process when the initial property owner can no longer make good on their mortgage payments. They can also occur to satisfy judgment and tax liens ordered by a court.
