What determines sheriff sale price?

[1967]

My house is in Wisconsin and hit's the sheriff sale in September. We have $13,000 in back taxes due and the first mortgage we owe $133,000 to the bank, this includes principal, attorney fees for the foreclosure, and interest etc.

The bank for the 1st mortgage foreclosed, we have a second mortgage of $51,000.

Real estate is so bad in our area that it's not worth it to own the home at this price with the 2nd mortgage attached. Anyhow, just wondering what the bank might put down as the minimum that they would want.

Thanks for the help!

Mike

[StartingOver08]

No one here can answer that question. You can search your county's F/C sale database for your neighborhood or contact a Realtor and have them give you the most recent list of F/C sales in your neighborhood for an estimate. It is public record information.