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FAQ: Will they accept my personal check for a Maryland trustee sale deposit?
Will they accept my personal check for a Maryland trustee sale deposit?
When you attend a Maryland trustee sale at the county court house, the auctioneer will read the advertisement that provides the terms of the sale.  The required deposit must be in cash or certified funds.  So, personal checks are not acceptable.
Most of the investors that attend trustee sales will have Cashier's checks in various amounts so they can match them up for the required deposit.  The amount of the deposit for each property will be stated in the advertisement that appears in a newspaper one time a week for three weeks before the sale date.  The major trustee sale auctioneers also post their auction schedules and the required deposits on their websites.
The Cashier's checks should be payable to the person that will be attending the sale and bidding on properties.  When a bid is successful, the Cashier's check will be endorsed and handed to the auctioneer.  The auctioneer will provide a copy of the written verification of the sale amount and the deposit on hand.
FAQ: Where are the lists of Maryland trustee sales? FAQ: Do I need a pre-approval letter to bid on a trustee sale?  ... more

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