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Home > Forum > Hyderabad > Other > Information about a property on foreclosure.

Information about a property on foreclosure.

Q: When the bank puts a property on foreclosure and auctions it, is it the banks responsibility to get the property vacated from the current owner, or is it the buyers responsibility?

property buyers
foreclosure
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Replies (3)
1
A foreclosure takes place when a homeowner or property owner cannot pay the mortgage fees on the property and is forced to give up the land to pay back what is owed.
himanshu


2
Can anyone knowledge me when foreclosure takes place?
Ankush


3
Hi Rajni, As per my knowledge it is the bank's responsibility to get the property vacated from the current owner before the auction.
rohit_marathi


4

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