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You will need to check the foreclosure statutes in the state/area in which you intend to purchase. They vary widely, with many providing a 'holding period' after the auction in which the original owner can redeem the house by paying what is owed. These periods vary widely, from as short as a week to several months.

Until the redemption period has passed, the house isn't yours.

2007-12-29 12:59:01 · answer #1 · answered by acermill 7 · 0 0

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