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In Frederick County MD I purchased a foreclosed home by

Customer Question
In Frederick County MD...

In Frederick County MD I purchased a foreclosed home by auction today. Can I cancel the sale and will I get my deposit back if I do?

Lawyer's Assistant: Since laws vary from place to place, what state is this in? And has any paperwork been filed?

It was in Frederick County Maryland. The only paper worked was a memorandum of purchase at public auction. Nothing has been filed or ratified by the court. I gave the a 42K certified check.

Lawyer's Assistant: Has any paperwork been filed?

Not yet to my knowledge. Sale was at 11AM this morning.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No Thanks

Submitted: 8 months ago.Category: Real Estate Law
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Answered in 1 minute by:
10/6/2017
Real Estate Lawyer: Law Educator, Esq., Lawyer replied 8 months ago
Law Educator, Esq.
Category: Real Estate Law
Satisfied Customers: 125,306
Experience: Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

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Real Estate Lawyer: Law Educator, Esq., Lawyer replied 8 months ago

I am afraid once you sign an agreement to purchase at the auction, unless the agreement had a clause allowing you to cancel the purchase, you are bound to the terms of the auction. You would need to contact the clerk to ask about any termination rights under the purchase agreement because if there are no termination rights, legally once you signed and tendered the check, you are bound to the contract and if you try to back out you can lose your deposit and can be sued for the balance based on breach of contract eve if the clerk as not ratified the sale.

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