Having participated in purchases of foreclosed property in Charleston, Berkeley and Dorchester counties, I easily navigate the process, but for the uninitiated the Charleston County website offers this explanation:
"When real property is ordered to be foreclosed in Charleston County, a judge called the Master-in-Equity will issue an order directing the mortgaged premises (or part thereof as required to satisfy the claims established) be sold by or under direction of the Master.
The judgment (often called a Master’s Decree of Foreclosure) will contain a legal description of the property being sold, a provision for the necessary legal advertisement, the time and location of the sale, and notice of any senior liens, taxes or other rights to which the property to be sold is subject. As a service to the public, an information sheet and a copy of decrees in notebooks are available in the reception area of the Master’s office. These notebooks are updated daily and you are welcome to review them during regular business hours (8:30 a.m.-5 p.m.). Copies of these packets are not permitted, but you are welcome to make notes.
All Master’s Decrees can be viewed on the Internet. From the county's home page, www.charlestoncounty.org, click on search court records, click on civil cases, enter TMS#, click on search, case will come up, click on docket, look for Master’s Decree Sale and Foreclosure, click on page icon and the document will appear. All legal ads in the newspaper also will have the terms of the sale and are run for three consecutive weeks in a local newspaper, usually the Post and Courier.
Sales are held the 1st and 3rd Tuesday of each month at 11 a.m. at the front entrance of the Charleston County Judicial Center located at 100 Broad Street in downtown Charleston.
The judgment also will specify the amount of good faith deposit necessary at the time of the sale, which is usually five percent of the successful bid at the sale. Compliance must be made with the bid by 4 p.m. that same day. This deposit is required to be in cash or certified funds and is not refundable. The plaintiff or any other party may be a purchaser on such sale. You have 30 days to comply with the balance of the bid with cash or certified funds."
For information on foreclosed property and the Master-In-Equity's Office for each county –
Charleston: http://www.charlestoncounty.org/index2.asp?p=/departments/MasterinEquity/D-Masineqty.htm
Berkeley: http://www.co.berkeley.sc.us/js/m_equity/index.php?display=textonly&menuLevel=16?display=graphics&menuLevel=
Dorchester: http://www.dorchestercounty.net/masterinequity.htm
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