Buyer Information

New Covid-19 regulations for Washington, DC foreclosure auctions: A new process has been implemented by the Chevy Chase Pavilion management for those attending Washington, DC foreclosure auctions. Masks are required for entry into the Pavilion, and entry into the facilities will be denied if this mandate is not followed. You must also sign in with a representative from our company before you will be allowed entry into suite 440 for auction proceedings. This representative will be stationed in the downstairs lobby area of the Pavilion.

TRUSTEES' NOTE: Prospective buyers are strongly encouraged to arrive at least fifteen (15) minutes before the scheduled sale time due to these new requirements. Please note that we cannot guarantee your attendance at the auction should you arrive past that time. While all reasonable efforts will be made to have a representative in the lobby up until the time of sale, that cannot be guaranteed, and if a representative is no longer present to sign you in when you arrive, you will not be allowed up to the suite to bid at the sale.

  • Unless otherwise specified, foreclosure auctions in Maryland take place at on the courthouse steps at the Circuit Courthouse for the county in which the property is located.  Click here for county information.  Foreclosure auctions in Washington, DC take place at our Washington, DC office.
  • Foreclosure auctions may cancel up to the minute of the sale.  We make every effort to update our website as soon as our office receives notification of a cancellation.
  • In order to bid, you must bring with you the required deposit in the required form. When you arrive at the auction, make your presence known to the auctioneer or trustee, who will then certify your deposit.  If you are the successful bidder, tender your non-refundable deposit, and fail to settle, the property may be resold at your risk and expense.
  • Generally, there is no access to the property prior to the foreclosure auction.  The property will be sold in an "AS-IS" "WHERE-IS" condition.  For the most part, we do not have any additional information relating to the property (number of bedrooms, bathrooms, etc.) other than what is contained within the legal advertisement.
  • If you are the successful bidder, you will immediately sign a memorandum of sale and tender your non-refundable deposit to the trustee or auctioneer.  The memorandum of sale contains the terms and conditions present in the legal advertisement.
  • In Maryland, after the auction takes place, the sale must be ratified by the Circuit Court for the county in which the property is located.  The timeline for ratification varies by jurisdiction, but 60-90 days is a good approximation.  After ratification, you will have a certain number of days to get your financing together and settle.
  • As a matter of course, we do not offer a broker commission split on foreclosure sales.  If you represent a buyer, you must negotiate your commission directly with your client.  There is no Buyer's Premium in foreclosure sales.
  • Please see the legal advertisement for the full terms and conditions of sale.  The legal advertisement for each sale is published once a week for three successive weeks before the sale in a newspaper of general circulation for the county in which the property is located.  A list of newspapers can be found here.

 

PROSPECTIVE PURCHASERS ARE URGED TO PERFORM THEIR OWN DUE DILIGENCE WITH RESPECT TO THE PROPERTY PRIOR TO THE FORECLOSURE AUCTION.  THIS OFFICE DOES NOT REVEAL FORECLOSURE BID AMOUNTS PRIOR TO THE SALE.  IF YOU OBTAIN A BID AMOUNT FROM ANY THIRD-PARTY SOURCE, INCLUDING, BUT NOT LIMITED TO, WEBSITES OR APPLICATIONS NOT DIRECTLY ADMINISTERED BY COHN, GOLDBERG & DEUTSCH, LLC OR MID-ATLANTIC AUCTIONEERS, LLC THAT BID HAS NO RELATIONSHIP TO THE ACTUAL BID WE WILL SUBMIT ON BEHALF OF THE SECURED PARTY AT THE SALE. For additional information, please contact the Substitute Trustees.  In the event there is a discrepancy, the published legal advertisement for any given foreclosure sale controls over any information contained herein.

 

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