Question: How To Re Open A Foreclosure In Nassau County?

What happens if a foreclosure does not sell?

If the property doesn’t sell at auction, it becomes a real estate owned property (referred to as an REO or bank-owned property). When this happens, the lender becomes the owner. If the previous owner doesn’t vacate the property, the lender can start the eviction process.

Is the Nassau County Clerk open?

The Nassau County Clerk’s Office has resumed limited in person access. Hours of operation are 9:15 am to 4:00 pm, Monday through Friday (excluding holidays).

Where do foreclosure auctions take place?

The phrase “ real estate auction ” often brings to mind the stereotypical image of a small group of investors, huddled around an auctioneer on the county courthouse steps. And in fact, almost all foreclosure auctions are conducted live in front of (or in a room inside of) county courthouses.

How do I file a quit claim deed in Nassau County?

Sign the deed in the presence of a notary public or other authorized official. Record the deed at the county clerk’s office in the county where the property is located for a valid transfer. Contact the same office to confirm accepted forms of payment.

What if no one bids at a foreclosure auction?

Bidding. If no one outbids the representative, or if no one else bids at all, the lender keeps the property. It does not have to pay the amount of its own bid; it usually receives a “credit” with the court equal to the outstanding mortgage balance.

How long can a bank hold a foreclosed property?

Under federal banking regulations, there is a two-year limit on banks maintaining possession of a foreclosed property. The rules stipulate that banks can apply for an annual exemption that can push their ownership of a property to as much as five years.

Is Nassau County Supreme Court open?

“It is important for citizens to know that the courts in Nassau County remain open for business with an emphasis on emergency and essential proceedings.” Family Court: 516-493-3900. Supreme Court and Matrimonial Center: 516-493-3401.

How do I look up a deed in Nassau County NY?

Where can I obtain a copy of my deed or mortgage? The fastest way to obtain this information is to come to the Nassau County Clerk’s office here at 240 Old Country Rd, Mineola, NY 11501 with the section, block, and lot of the property.

How do I become a notary in Nassau County?

An applicant for a Notary Public commission must submit an original application along with the required fee to the Secretary of State Division of Licensing Services. The application includes an oath of office which must be sworn and notarized.

Can you still live in your house after foreclosure?

Many states allow for this under a process called “statutory redemption.” Under this rule, you have a limited amount of time to pay the foreclosure sale price (plus interest in many cases), and you are usually allowed stay in your home during the redemption period, whether it’s 30 days or two years.

Do banks give loans for auction homes?

If you don’t get a loan from the bank auctioning the property, other institutions will not lend for a foreclosed asset. “Bidders, therefore, need to have enough cash or they would need to arrange money through other means.

How much does an auction house charge the seller?

In general, you’ll pay a sales commission equal to 20 to 50 percent of the sale price. If your sale totals less than $300, you’re more likely to pay that 50 percent; more expensive items are charged lower commissions. But fees are negotiable and often depend on how much an auctioneer wants to sell your goods.

How much is it to record a deed in Nassau County?

NOTE: The Nassau County Clerk’s Office now requires each instrument presented for recording to be accompanied by a Tax Lot Verification Letter for an additional fee of $355.00 per document.

What is the transfer tax in Nassau County?

Tax rate. Tax is computed at a rate of two dollars for each $500, or fractional part thereof, of consideration. An additional tax of 1% of the sale price (” mansion tax “) applies to residences where consideration is $1 million or more.

How do I file for divorce in Nassau County NY?

The Uncontested Divorce Process

1. File a “summons with notice” or “summons and complaint” with the County Clerks Office.
2. Serve the defendant with either your summons with notice or summons and complaint.
3. Wait for the defendants response.