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Understanding the Sheriff Sale Process

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by

Micah Mahjoubian

on 2 June 2016

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Transcript of Understanding the Sheriff Sale Process

Understanding the Sheriff Sale Process
The Judicial sale (known as Sheriff’s Sale) is held on specified date unless property is withdrawn (stayed) or sale is postponed.
Buyer (high bidder) is required to place a minimum deposit of either 10% of the successful bid price or $600, which ever is higher.
After a final judgment is filed with the Courts, the Plaintiff can request that the Court sell the property and a Writ of Execution is served to the defendant (property owner). This begins the judicial sale process conducted by the Sheriff.
Once the Court issued WRIT of execution is filed with the Sheriff the property is posted and advertised for sale.
Buyer needs to complete the sale by paying the balance due on the property within 30 days, or it is re-listed for Sheriff's Sale.
Sheriff’s Office distributes funds per lien order priorities. Sheriff’s deed is ordered and filed with the Recorder of Deeds.
Defendant (real estate property owner) has the right to file a claim for any excess balances with Defendant Asset Recovery Team (D.A.R.T.) at the Office of the Philadelphia Sheriff.
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Presented by
Sheriff Jewell Williams
www.OfficeOfPhiladelphiaSheriff.com
Full transcript