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Updated almost 5 years ago,

User Stats

15
Posts
10
Votes
Jeremiah Dexter
  • Investor
  • Eagan, MN
10
Votes |
15
Posts

Auction.com Winning Bid, occupant is selling in redemption period

Jeremiah Dexter
  • Investor
  • Eagan, MN
Posted

In need of direction. 
We won a forclosure on auction.com with a quitclaim deed (not great but we checked for other liens and there were none). House is still occupied until June (4 more months) until the redemption period is over. However, we just found out they have the house under contract and listed on the MLS and due to close in 2 weeks' time. My big question, what will happen with the house since I hold the quitclaim deed, are they still legal to sell? Also, the bigger question, what will happen with the cash we used to purchase the property? Thank you for any response.

Located in Minnesota if it helps. Also, we are unable to acquire title insurance until after the redemption period. 

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