Judicial Sales

Foreclosures:

Tennessee is a non-judicial foreclosure state. This means that the mortgage holder does not need to go through the courts to auction off the property. The lender will publish notice of the foreclosure sale in a newspaper or post notice in public places before the sale. The Clerk and Master’s office will not have any record of these foreclosures unless a rare judicial foreclosure case is filed in their office. 

Judicial Sales:

In Tennessee, a court-ordered sale of property occurs when a judge mandates the sale of real estate to resolve disputes or satisfy legal obligations. The court will appoint the Clerk and Master as a Special Commissioner to auction the property. The notice of sale will be run the in The Daily Times for three (3) consecutive weeks at least twenty (20) days prior to the sale date. The location of the sale will be stated in the published notice of sale. 

Bidder information:

The successful bidder must pay 10% of the purchase price the same day as the sale. Failure to do so is subject to legal action in the event the successful bidder fails to pay. 

The only forms of payment accepted are cash and cashier’s check.                        NO PERSONAL CHECKS or BUSINESS CHECKS

The property is sold “as is and where is”. It is the bidder’s responsibility to research the property before bidding. Bidders can research the property at the Tennessee Comptroller of the Treasury’s website at: assessment.cot.tn.gov

The sale is not complete until the Judge signs the Order Confirming Sale. Once the order is signed, the successful bidder will pay the remaining purchase price within thirty (30) days of the entry of the order and receive a Clerk and Master’s Deed. Failure to do so is subject to legal action in the event the remaining balance is not paid. 

It is the bidder’s responsibility to record the deed with the Register of Deed’s office. 

Funds Release Timeline:

The Clerk will release funds from the Court Registry thirty (30) days after an order to disburse has been entered.