846.16 Notice of sale; sale; confirmation; transfer.

899 words·~4 min read·/wi/chapter-846/846-16-4

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Notice of sale.

(a)Notice of in-person sale. Except as provided in par.

(bm), the sheriff or referee who makes sale of mortgaged premises, under a judgment therefor, shall give notice of the time and place of sale as provided under s. 815.31 or in such other manner as the court shall in the judgment direct. The sheriff or referee shall include in the notice of sale the street address, if any, of the real estate to be sold and the sum of the judgment.

(bm)Notice of Internet-based sale. If a sale is conducted under sub.

(b), the sheriff or referee who makes sale of mortgaged premises shall give notice of the time and place of sale as provided under par.

(a), except as follows:

1. Section 815.31

(1)does not apply to the sale. The sheriff or referee shall publicly advertise the time and place of holding the sale by posting, at least 3 weeks prior to the date of the sale, a written notice describing the mortgaged premises to be sold with reasonable certainty in one public place in the city, village, or town where the mortgaged premises are located and, if the county where the mortgaged premises are located maintains an Internet site, on that Internet site. If the city, village, or town where the mortgaged premises are located maintains an Internet site, the city, village, or town may post the notice on that Internet site.

2. The notice also shall include all of the following information:

a. A statement that the sale will be conducted using an Internet-based auction.

b. The address of the Internet site where the Internet-based auction will be conducted.

c. The time period during which bids for the mortgaged premises may be submitted.

d. Instructions on how the general public may observe the Internet-based auction and on how a person may participate in the auction, including any prerequisites to participation that may apply, or the address of an Internet site where those instructions are posted.

e. A description of the terms of sale that apply to the Internet-based auction, including a description of any lien or other encumbrance on the mortgaged premises that has priority over the mortgage that is the subject of the foreclosure action.

(cm)Notice to department of veterans affairs. In addition to providing notice of sale under par.

(a)or

(bm), if the department of veterans affairs is a party in the foreclosure action, the judgment shall direct that notice of sale be given by registered mail, return receipt requested, to the department at Madison, Wisconsin, at least 3 weeks prior to the date of sale.

(d)In any public place or on any Internet site where the sheriff or referee posts a notice of sale, the sheriff or referee also shall post an explanation regarding the minimum bidder qualifications under s. 846.155

(2)that a participant in the sale must meet and a statement that, before the sale may be confirmed, a purchaser that is not a party in the foreclosure action must submit an affidavit to the court affirming that the purchaser meets those minimum bidder qualifications.

(1g)Sale of mortgaged premises.

(a)Payment of purchase price and costs of sale; deposit or down payment.

1. Except as provided under subd. 2. and this subdivision, the sheriff or referee may not accept less than $100 as a deposit or down payment from the purchaser at a sale of mortgaged premises. The sheriff or referee shall deliver the amount of the deposit or down payment to the clerk of court as provided in sub.

(b)2. b. , and the purchaser shall pay the balance of the purchase price to the clerk of court upon the confirmation of the sale as provided in sub.

(b). If the highest bid is less than $100, the purchaser shall give the bid amount as a deposit or down payment, and the sheriff or referee shall deliver the entire amount to the clerk of court.

2. If the judgment creditor is the purchaser at a sale of mortgaged premises, the judgment creditor may give the judgment creditor’s receipt to the sheriff or referee for any sum not exceeding the sum due to the judgment creditor. The judgment creditor’s receipt is considered a down payment. If the judgment creditor is the purchaser and the sum due to the judgment creditor is less than the purchase price, the judgment creditor shall pay the difference to the sheriff or referee at the time of sale.

3. In all cases, the purchaser at the sale of the mortgaged premises shall pay the cost of sale.

(b)Internet-based sale.

1. A county may enact an ordinance that requires the sheriff or referee to conduct, or to engage an auctioneer registered under ch. 480 to conduct, sales of mortgaged premises in the county using an Internet-based auction. If a county enacts such an ordinance, all sales of mortgaged premises in the county shall be conducted using Internet-based auctions.

2. If a sale is conducted using an Internet-based auction, the person conducting the sale may accept payment of any amounts under par.

(a)by credit card, debit card, or other electronic payment method and may charge a surcharge to the payer to recover charges associated with accepting the electronic payment.