Bought house in foreclosure - now lawyers for Owner want to "Vacate Sale"?

[HoneyHany]

What is the name of your state? NEW YORK

Hi I just purchased a house on foreclosure on december 5th for my new family. I put the 10% deposit after the auction and everything was going swell (signed papers with bank representative, foreclosure sale referee, got my finances ready, got ready to close on the house in 3 weeks) up until about 2 weeks later after the auction I get a letter from supposedly the original home owner's lawyers saying that the foreclosure sale should have never happened.

The letter was dated December 17th. The auction happened December 5th. Allgedly, according to the home owner's lawyers letter, "the auction should have not taken place", because on December 4th, a Judge signed a motion of "Order to Show Cause", which i have no idea what implications that has on a foreclosure sale. They state that the foreclosure sale will be "vacated" which means nullified after they prepare a motion to "vacate a sale" to the court on the grounds mentioned above of "Order to Show Cause".

My question is, can a foreclosure sale, after it has occurred, actually be "vacated", or nullified?

Thank you!
Hany

 

[FlyingRon]

It's possible. How likely depends on what was filed with the court. The day before the sale is pretty danged late to be filing things. That's why they require the affected parties to be served and the thing is published in the paper for four weeks before the sale.

 

[nextwife]

There also is during which the deal can still be cancelled if the buyer pays off the entire amount needed. This occurs BETWEEN the Sheriff's Sale date and the Confirmation of Sheriff's Sale, so there will not be a Sheriifs Deed issued until the Confirmation date arrives. In other words, the deal is NOT final at the Sheriff's Sale. One more step is needed.

 

[nextwife]

There also is during which the deal can still be cancelled if the buyer pays off the entire amount needed. This occurs BETWEEN the Sheriff's Sale date and the Confirmation of Sheriff's Sale, so there will not be a Sheriiffs Deed issued until the Confirmation date arrives. In other words, the deal is NOT final at the Sheriff's Sale. One more step is needed.