Buyers who are looking for a deal will often ask me about foreclosed homes and how to buy them. The perception is that because the former owners defaulted on their debts, the property can be bought at a discount.
Once a home has been foreclosed upon, it is sold at auction. Buyers must have the full funds to purchase the property; these purchases cannot be financed. Most foreclosure auctions take place at the Whatcom County Courthouse.
One form of the foreclose auction in Whatcom County is the sheriff sale. These auctions typically sell properties where owners defaulted on their mortgage. These auctions tend to happen monthly.
The other form of the foreclosure auction in Whatcom County is the Treasurer's sale. These auctions typically sell properties where owners defaulted on their tax payments. These auctions are infrequent.