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Can I sell my home to independent person after it has sold at sheriff sale?

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Can I sell my home to independent person after it has sold at sheriff sale?
My home sold at sheriff sale. Someone offered to buy it for 6000.00 and we just sign over the deed. Can I do that? We did sign a purchase agreement and accepted 3000.00 as earnest money. He's also requesting we sign over the deed and he'll give us the rest on date of PA.,but we recently came up with a way to keep it. Can we cancel that agreement and keep it our self?

2 Attorney Answers

Best Answer
In Minnesota most folks have a 6 month redemption period after the sheriff's sale. During the redemption period you have the right to sell the home ... but if you are selling it for less than the amount from the sheriff's sale then you must get permission from the lender ... if you are selling it for more than the amount from the sheriff's sale then you'll have to pay over that amount to the lender and the rest should be for yourself (if there are no other liens on the property). It's not clear in your situation if someone was offering to purchase your "right to redeem", but based on the amount involved ($6k) it sounds like that's what might be happening. You will have to look carefully at any paperwork you signed. You shouldn't sign over any deed until you've had a chance to talk with your lender about this transaction and/or an attorney.
Very best regards,
Errin P. Stowell, Esq.
Stowell Law Firm, LLC
350 St. Peter Street, Suite 224
St. Paul, MN 55102
917-376-5442 phone
stowell.law.firm@gmail.com
If the home was sold at a sheriff's sale it is no longer yours to sell. By selling it to this person and taking their money you have committed fraud. Best thing you can do is tell them you found out title was no longer in your name because of sheriff's sale and give them back their money.
The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of California. Responses are based solely on California law unless stated otherwise.

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