Understanding County Auction Results

[Leslie Shapiro]

Hello all,

I'm hoping to pick your brains about some things I don't understand when researching foreclosures, particularly county foreclosure auctions.

What I *think* I understand so far is that typically the bank ("Plaintiff") ends up being the highest bidder and taking back the property. For instance, Beaufort County SC had sales last month, one of which is listed this way:

Case No (xxxx)
Case Name (x vs. x)
Bidder: Plaintiff
Bid Amount: $2500
Lawyer Name, TMS, Address

Then we come to two columns that I don't understand: Deficiency (options here are "Demanded" or "Waived") and "Judgements" which is a $ amount.

So, in the case above, the Deficiency was Waived and the Judgement was for $85,453. What should I conclude from this? The bank Plaintiff now owns the property for the purchase price of $2500 so they are writing off the difference between judgement and purchase price? How does Waived/Demanded fit in?

I'm also curious about Case #2: a house with a judgement of $247993, Demanded. The winning bidder was not the Plaintiff but, I assume, another lienholder (a bank name). They bid higher than the amount demanded, to $261,269. Why?

Sorry so long. Most of this will probably become clear once I get the Demanded/Waived distinction. I've searched this site all day and couldn't find it - and of course googling anything about foreclosures just leads to tons of paid sites. Your expertise is much appreciated!
:D