I recently won a bankruptcy auction from a respected auctioneer here in Cincinnati, OH. The auction was for a Marriott timeshare. I paid $5,751 + 10% premium to the auctioneer. The funds are now sitting with the auctioneer.
The trustee then contacted me 2 weeks after the auction was over with a copy of an electronic filing to the US Bankruptcy Court of Southern Ohio requesting the judge to accept my purchase (see attached)
So now I have the following questions:
1. How are the funds flow allocated for the net $5,751 that I already paid? Does this entire amount go to the lien holder / Marriott to cover the liens and fees? Or does it go to (debtor/obligor) directly?
3. In the letter that I pulled from the county from the Marriott attorneys, it states that the Obligor owes $6,204.89 which is comprised of unpaid maintenance fees, assessments, legal fees, and filing fees (see attached).
Will my $5,751 be used to cover the totality of these fees comprising the $6,204.89? Or based on this new information that I pulled, will I have to pay an additional $6,204.89 for clear title on top of the $5,751 and $575 that I have already paid to the Debtor Trustee and the auctioneer.
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