Found an Ocean City property online in "pre foreclosure?" Chances are it's going to Sheriff Auction before becoming a bank owned property.
Keeping an eye on this list might be the best way to to know when a property might be going back to the bank. Or better yet, you could bid on it before it goes back to the bank!
According to the Sheriff's website:
- Bids start at $100 and continue in $1,000 increments
- If you're the successful bidder you must leave 20% of the bid amount in cash or certified check
- The balance of the bid is payable in 30 days
If you're considering bidding on a property I strongly recommend a title search on the property first. This would be done before arriving at the auction.