All Forum Posts by: Mac Bradley

I am located in Texas

When I buy a house at a trustee foreclosure auction and the previous owners are still in the house, do I need to hire a lawyer to evict them or can I, as the new owner, just show up at the justice of the peace on the court date with a copy of the trustee's deed, or do I need other documentation? I sent them a certified letter demanding possession already.

Ohio Realtor...
You mean to say ones the lender got the ownership of the property (as he is the only highest bidder) after foreclosure then he can sell it at any price as he would like and make the profit for his own without paying for the previous owner.
Am I right?

But I am having some confusions because I got this answer during my search on google:

Q: What happens if the lender bids more than the note balance and is the highest bidder?
A: The lender has to pay the excess to the foreclosure trustee who then distributes it to the former owner if there are no other liens that have to be paid.

Please clear my doubts.
Thanks

Lender is high bidder at auction and bids minimum bid so no money is
owed to Borrower. Lender then lists the property for sale w/ a real
estate agent and property sells at a profit over the original auction
bid. Can the lender keep the profit or does he have to refund that
profit back to the original borrower?

Lender is high bidder at auction and bids minimum bid so no money is
owed to Borrower. Lender then lists the property for sale w/ a real
estate agent and property sells at a profit over the original auction
bid. Can the lender keep the profit or does he have to refund that
profit back to the original borrower?