CLARKSBURG FORECLOSURE - 22212 FAIR GARDEN LN, CLARKSBURG, MD 20871

CLARKSBURG FORECLOSURE - MONTGOMERY COUNTY, MARYLAND

22212 FAIR GARDEN LN, CLARKSBURG, MD 20871-4025 IS SCHEDULED TO BE SOLD AT A TRUSTEE SALE BY HARVEY WEST AUCTIONEERS ON OCTOBER 3, 2008 AT 10:19 AM.

What does this mean? When a home owner defaults on the mortgage payments, the lender will instruct the trustee under the deed of trust to conduct a trustee sale at the court house entrance. Trustee sales are foreclosures. The sales are advertised for three weeks before the auctions take place. The advertisement for this home appeared in The Washington Post today. It will be advertised again on October 1, 2008. The sales are open to the public and any qualified bidder may submit bids. The required deposit for this sale is $50,000 in cash or certified funds.

Buyers should carefully read the advertisements that are published and fully understand the terms and conditions of the sales. Seek professional advice if you have limited real estate experience. Always check for cancellations before attending the sales. The sales will not take place when the owners reinstate the loans or file bankruptcy.

This home is not currently listed for sale on the multiple listing service so it is not available to be shown by agents. This is typical. Most of the time, you do not get to see the inside of properties advertised for trustee sales.

In the current market, most of the properties that are sold are actually purchased by the secured mortgage lenders. The lenders then offer he homes for sale when they become part of the REO inventory. Contact us for client reports on lender owned homes in Montgomery County. roykelley@mris.com