Staten Island and Brooklyn foreclosure auctions share state law but not local rules. The closing window is 30 days in one court form and 45 days in the other.
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Joseph Ranola is a real estate broker and not an attorney. A foreclosure purchase carries legal risk around title, occupants and deadlines, so have a real estate attorney review the Terms of Sale before bidding. This page covers what the court sources say and the brokerage question of what to bid.
A foreclosure referee sale is a public auction of a mortgaged property, run by a court-appointed referee after a judgment of foreclosure and sale. New York requires notice of the sale to be published in a daily newspaper in the county, either once a week for four weeks or twice a week for three weeks. Source: nysenate.gov, RPAPL 231.
The referee cannot bid for their own account, and doing so voids the sale. Source: New York State courts, Foreclosure Referee Guide, March 2026. Buyers on Staten Island and in Brooklyn follow the same state law, and the local courts add their own rules on top.
The winning bidder pays a 10% deposit immediately after the sale, which the referee holds in an IOLA account, and the referee delivers a Referee’s Deed at closing. Source: New York State courts, Foreclosure Referee Guide, March 2026.
On a $750,000 winning bid, 10% is $75,000, and the balance comes due at closing. If the buyer closes late, the buyer may owe interest to the plaintiff, and the judgment’s Terms of Sale control the details. Always read the Terms of Sale for the specific property before bidding.
Not automatically. The courts’ referee guide says the buyer is entitled to marketable title unless the judgment says otherwise, that insurable title is not required, and that the plaintiff and the purchaser should resolve title issues beforehand. Source: New York State courts, Foreclosure Referee Guide, March 2026.
A buyer should order a title search before the auction and not after. Joseph Ranola is a real estate broker and not an attorney, and a foreclosure purchase should be reviewed by a real estate attorney before the deposit is paid.
The Richmond County Supreme Court Foreclosure Part rules list auctions every other Thursday at 10:00 AM at 18 Richmond Terrace, Room 112, Staten Island 10301. The Richmond auction rules document, which is undated, instead says 2:00 PM at the location named in the Court’s Order, so confirm the time and room in the notice of sale. Source: nycourts.gov, Richmond County Supreme Court.
The same Richmond rules require the 10% deposit to be on hand at the time of the bid, by certified or bank check payable to the Referee. Cash is not accepted and double-endorsed checks are refused. Closing must occur within 30 days of the auction, and an adjournment beyond 90 days needs court consent. A bidder who fails to close can forfeit the deposit, can be liable for any shortfall and is generally barred from bidding for 60 days. Bidders must show identification.
The Kings County Supreme Court Judgment of Foreclosure and Sale form places the auction in Room 224, 360 Adams Street, Brooklyn 11201, on a Thursday at 2:30 PM. The court’s foreclosure sales page says Thursdays but was out of date when checked on October 28, 2026, so verify the date in the notice of sale. Source: nycourts.gov, Kings County Supreme Court.
The same form requires a 10% deposit to the referee in cash or by certified or bank check, with no deposit from the plaintiff when it is the buyer. Closing is due within 45 days of the sale unless the parties agree otherwise, the notice of sale must be served at least 10 days before the sale, and the sale is as is, with risk of loss staying with the seller until title closes. These terms come from a court form and each judgment’s Terms of Sale can change them.
Not right away. For a tenant in a non-rent-regulated unit, the successor owner must give written notice, and the tenant may stay for the greater of the remaining lease term or 90 days from service of the notice. A lease signed in good faith by a tenant who was not in occupancy when the foreclosure began is capped at three years. Source: nysenate.gov, RPAPL 1305.
The statute has an exception for an owner-occupant of one unit, who gets 90 days. The sources reviewed do not state how long it takes a buyer to get possession from an occupant who has no lease, and Joseph Ranola does not quote a timeline. A buyer should assume that possession is a legal process and price in the cost and delay.
Joseph Ranola prices the property from recent sales in the same Staten Island or Brooklyn neighborhood, so the maximum bid reflects the repairs, the occupancy risk and the 10% deposit. Joseph Ranola serves every neighborhood across Staten Island and Brooklyn, from Tottenville to Williamsburg.
“Joseph Ranola is a one of a kind realtor. He is very helpful and honest. He made my process looking for the right home and in my budget. I highly recommend him.” — Mary Ellen Graham, verified Google review
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