South Carolina Foreclosure
South Carolina Foreclosure:
Judicial foreclosure and deficiency judgment are allowed but non judicial procedure and right of redemption are not available. Timeline is variable and mortgage is alone the security instrument. Lender obtains a decree of sale from court by filing a complaint. If court is convinced of default borrower is given time to pay delinquent amount including costs. Failure on borrower’s part triggers order of sale by the court. A detailed notice is published in the court house, two other prominent places in the county and news papers for three weeks. Sale is at the court and by Sheriff on first Monday between 11.00 AM and 5.00 PM. Bidding stays open for thirty days even after the auction date. Interested parties may bid higher than the last bid (called as upset bidding). Confirmation of sale is by filing no objection to sale price within three months of sale.
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