South Carolina foreclosure

The South Carolina foreclosure process is always judicial. As is the case in other judicial foreclosure proceedings, the lender files a lawsuit in order to foreclose. The judge will determine how much you need to pay in order to cure the default and give you some time to pay it. If you don't pay in the alloted time, the judge will allow the sale of your property to proceed in the following manner:

1. At least 3 weeks before the sale, a notice must be posted at the courthouse and two other public places. This notice must list the name of the lender and the borrower, a description of the property and the time and place of the sale.


2. During this 3 week time period, the notice must also be published in a newspaper of the county where the property is located.


3. The sale will take place on the first Monday of the month unless it's a holiday in which case it will be held on the Tuesday.


4. South Carolina uses upset bidding. In upset bidding, even though one person will win the bid on the sale date, bidding will remain open for another 30 days. Anyone can bid a higher amount during that time period and get the property.