Sheriff Auction/Sale Questions

[Ian G.]

Can some of you greybeards help me understand several things that might help me in the future?

I recently went to a sheriff's sale, on the county courthouse steps. I did a lot of research first and I learned a lot about deeds and filings and judgments and how the county and city and courts interact. But there are several points that I still don't understand. Please don't answer unless you know. I

1 - The starting price at the auction was the sum of the amount owed to the bank, plus interest. Why? I read the court judgement. And, yes, in the judgement, the bank was awarded the full back costs of the mortgage plus interest, and the judgement says the proceeds of the sale are to go to the bank for up to the full amount (less auction fees) owed. BUT it does not say that the bid should start at that price, and in fact it also says "The Plaintiff shall not be entitled to a deficiency after the foreclosure sale...." Doesn't that mean that if the auction is for less than the full judgement, the bank can't get the difference from the winner? And doesn't that imply that the auction might go for less?

2 - When the auction started, the deputy said "we already have a bid from the bank." But, how was the bank allowed to bid, if the auction took place on the county courthouse steps?

3 - *Why* did the bank want to bid?

4 - Did the bank actually have to pay the sum that they bid? If not, WTF is going on? Actually, if they did have to pay, then they'd be paying to themselves (less auction fees), so again WTF is going on?

5 - The city said that there was a large bill for payments in arrears (water bill, fines, etc.) but they were not allowed to tell me how much for. But if I'd had time for a title search, then the title company could have found this info I assume, right? So why does the title company have access if I don't?

Thank you!

[Chad U.]

Quote from @Ian G.:

Hi Randy, I was going to post a reply but after a while I thought it might come off rudely. You haven't answered even one of my questions. At best, you've just pointed out that they are questions. Please don't reply to me in the future, and if you'd like me to explain what I mean I will do you that courtesy by posting the fuller reply.

Wow I thought he did a good job and took time to respond to your lengthy questions. You are right, your response to him is extremely rude.
I have all the answers you are looking for (Which are basically what Randy mentions above) but after reading your response above you are out of luck buddy.