Is it legal to auction off your home?

**dana2100** · 03-24-2009, 12:35 PM

**plumberdude** · 04-27-2009, 03:30 PM

If you own the home outright, no loans or liens you could do anything you want with it

**Greg** · 04-28-2009, 05:05 AM

Like plumberdude said. If you own it outright you can do whatever you want.

If you have a loan on it, you can still auction it off. It is the same as selling it traditionally. The only thing your lender/lenders are concerned with is getting their money out of the transaction.

Good luck.

**Dalton** · 04-28-2009, 06:22 AM

yes i can agree with it... as long you have all in paper you can auction it...

HELLO FROM MIAMI..!!!

**REITrainingWhse** · 04-28-2009, 03:14 PM

Originally Posted by dana2100

Is it legal to auction off your home?

Okay, I MUST be missing something, but WHEN isn't it legal to auction off your house? If you have a mortgage on the house, it will still be attached to the house, until satisfied.

If you don't satisfy the lienholders with the procedes, then you have not provided the winning bidder a marketable title, and then you will get sued by them for the money + attorney fees + court costs + any other damages... But YOU WILL NOT GO TO JAIL, for auctioning off your house. It is just a civil case, if you don't provide a clear and marketable title. (Now if you auction off a house that YOU DON'T OWN, then that is fraud, and jail time could arise.)

I MUST be missing something... But I always thought that you can sell anything that you own, in any way you wanted to... Unless the laws have changed. Have they?