Foreclosure Sales Information

General Information: When real property is ordered to be foreclosed in Beaufort County, the Master-in-Equity will issue an order directing the premises (or part thereof as required to satisfy the claim established) be sold by or under the direction of the MIE.  The judgment, often referred to as the Master’s Decree of Foreclosure, will contain a legal description of the property being sold, a provision for the requirements of legal advertisement, the time and location of the sale, and notice of any senior liens, taxes, or other rights to which the property is being sold is subject.  All Notices of Sale shall run for three (3) consecutive weeks in either the Beaufort Gazette or the Island Packet depending on the location of the real property.  

Time and Location: Sales are typically held on the first Monday of every month at 11:00 a.m. on the Second Floor of the Beaufort County Courthouse, 102 Ribaut Road, Beaufort, South Carolina 29902.  In the event the first Monday is a Holiday, the sale will take place the next business day at the same time.  A list of all properties being sold on any scheduled day may be found in a notebook outside of the MIE Offices at the Beaufort County Courthouse, Second Floor.  Foreclosure List Information can also be found on the South Carolina Judicial Department Public Index website.  Instructions for accessing the List are as follows:  https://www.beaufortcountysc.gov/master-in-equity/foreclosure-list-information.html. 

Terms of Sale: The Decree of Foreclosure and Notice of Sale shall dictate the terms and conditions of each sale.  If you are the successful bidder at the sale, you are required to deposit five (5%) percent of the bid amount in certified funds made payable to the Beaufort County Master-in-Equity no later than 3:00 p.m. on the day of the sale.  Thereafter, the successful bidder has thirty (30) days in which to pay the balance of the bid, plus applicable interest, in certified funds to the Master-in-Equity’s Office.  Deposits are non-refundable.  In the event the successful bidder fails to pay the balance of their bid within the thirty (30) day period, their deposit shall be forfeited, and the property will be noticed for sale at a later date.

Deficiency Demanded: Some Plaintiffs may seek a “deficiency judgment” against the Defendant.  This generally means that the Plaintiff is seeking a money judgment against the Defendant consisting of the difference between what the property sold for at the foreclosure sale and what the Defendant owes to the Plaintiff. For example, if the Defendant owes the Bank $100,000.00 and the property sells for $50,000.00 at the sale, then the Bank would have a money deficiency judgment against the Defendant for $50,000.00.  If, on the day of sale, deficiency is demanded and it has not been waived in writing, the bidding will not be closed on the day of sale but shall remain open until the thirtieth (30^th) day after such sale, exclusive of the original day of sale.  Thereafter, typically next month’s sale date, the property will be offered for final sale to the highest bidder.

The Plaintiff can only bid at the first sale date.  The Plaintiff (or the highest bidder at the first sale date) cannot increase their bid amount from the first sale date.  Requests for deficiency judgments are often waived and maybe waived in writing as late as the first sale date.  Therefore, if you anticipate bidding on a property when a deficiency is demanded, you should consider attending the first sale date and be prepared to bid. 

Deficiency Waived: Some Plaintiffs may “waive deficiency” meaning that the Plaintiff has given up its right to collect a money judgment against the Defendant if the property sells at the sale for less then what the Bank is owed.  If deficiency is waived in the original pleadings or in writing prior to the first sale date, the property will be sold to the highest bidder on the first sale date.

Master’s Deed: It is the responsibility of the successful bidder/purchaser to have the Master’s Deed prepared for the MIE’s signature.  A Master’s Deed is not a general warranty deed.  Bidders should consider having an opinion of title prepared from a licensed attorney prior to bidding on any property.  Properties are sold subject to any outstanding liens, encumbrances, property taxes, assessments, existing easements and restrictions of record, to include but not limited to, any outstanding mortgage(s), judgment(s), or lien(s) existing on the property at the time of sale.

Removing Foreclosure Cases From the Active Roster

There are two (2) ways in which a pending case can be removed from the active roster of pending cases:

1. The Plaintiff may strike the case from the active docket pursuant to Rule 40(j), SCRCP. [See, Maxwell v. Genez, 356 S.C. 617, 591 S.E.2d 26, (S.C. 2003) for explanation of one (1) year tolling of the Statute of Limitations and restoring matter to active roster], or
2. The Plaintiff may file a Motion and Order for Stay and to Strike the Case from the Active Roster of Pending Cases.  Sample Motion and Order

Either method is acceptable.  If Plaintiff files a timely Motion and Order for Stay and to Strike the Case from the Active Roster of Pending Cases, the Court will only entertain an extension of the stay for an additional six (6) months.  Any anticipated period of stay lasting more than one (1) year, for example a two (2) year forbearance agreement, Counsel should consider using Rule 40(j), SCRCP.

All questions concerning Foreclosure and Foreclosure Sales matters should be directed to the Foreclosure Clerk, Jacqueline Grey at (843) 255-5713 or jgrey@bcgov.net.