When The House Is Foreclosed
S.C. Code 15-39-720 and S.C. Code 29-3-660 — a court foreclosure, bidding open thirty days, and a deficiency judgment
In South Carolina a mortgage is foreclosed through the court. The court may render judgment against those liable for the debt and order the mortgaged premises sold at the same time, and the sale price is credited against that judgment.
The bidding stays open thirty days. At a judicial sale of real estate to foreclose a mortgage, the bidding does not close on the day of the sale. It stays open until the thirtieth day after, and anyone other than the highest bidder may enter a higher bid with the required deposit. The bidding is reopened at eleven o'clock that day and runs until the property is knocked down to the highest bidder. The mortgagee bids only once, at the sale.
The bidding does not stay open where the complaint says no personal or deficiency judgment is demanded and waives the right to one, and the sale advertisement must say so.
The deficiency. Where the borrower is personally liable for the debt, the court may order the borrower to pay whatever remains unpaid after the sale, and may do the same against another person who guaranteed it.
An appraisal procedure can reduce or cancel a deficiency, and an expedited process applies to abandoned property. A particular foreclosure is a question for a licensed South Carolina attorney.
Sources for this section (4)
- S.C. Code 29-3-650 — Court may render judgment and order sale at same time
- S.C. Code 29-3-660 — Deficiency judgment
- S.C. Code 15-39-720 — Upset bids within thirty days on foreclosure or execution sale
- S.C. Code 15-39-760 — Upset bid sections inapplicable to certain foreclosure suits
Legal information, not legal advice. Verified as of October 2026. Applying it to a particular situation is the work of a licensed South Carolina attorney.