subject: How New York Foreclosure Auctions Work [print this page] How New York Foreclosure Auctions Work How New York Foreclosure Auctions Work
In case a winning bidder has been declared, this winning bidder will need to pay the down payment, the auction house service fees and other charges associated with the auction right before he leaves the venue. He will need to close the deal within the pre-agreed time, which in New York is the standard 30 days. Should he fail to do so, he would lose the property he won at these New York foreclosure auctions, along with his down payment.
