After the sale, the court determines the amount of the deficiency and enters a personal judgment for that amount. Under either procedure, the debtor or other proper defendants may demand that the property be appraised to determine if the high bid at sale was a fair price for the property. See Federal National Mortgage Assoc. Generally, if the deficiency judgment is being waived, the successful bidder has 20 days to comply with his or her bid. If a deficiency judgment is being sought, then the bidding must remain open for a period of 30 days to allow for additional bids.
Property is sold in the county in which it is located.
However, where the property being foreclosed upon lies in more than one county, the court may determine the county where the sale will take place, with the advertising of the Notice of Sale being in all counties in which the land lies. Prior to the property being sold at public sale, the Notice of Sale must be advertised once a week for three weeks prior to the sale date. The advertisement must specify the property to be sold, the time and place of sale, the property owner's name and the plaintiff's name. If the deficiency is waived, the Notice of Sale must state that the bidding will not remain open for 30 days. If the case has been referred with finality, the Equity Judge may issue an order, an Order of Sale, Receipts and Disbursements and an Order of Confirmation all as a single document.