What are surplus funds or excess proceeds?
When a property is sold at a foreclosure or tax sale, the winning bid must first pay off the amount owed—such as the mortgage, taxes, fees, and costs. If the winning bid is higher than that amount, the extra money left over is called surplus funds or excess proceeds.
Depending on the laws in your area, those funds may belong to the former owner or may be shared with other parties such as lienholders. Many people never find out they are entitled to any of this money.
How do I know if I have surplus funds in my name?
Usually, you would need to check court or county records for the specific case number or property address. Some counties send letters, but not everyone receives or understands them, and notices can be easy to miss.
At Legacy Fund Recovery, we start by researching your situation and confirming whether surplus funds exist. Then we explain what we found in simple language and outline your options.
Do you charge any upfront fees?
In most cases, we work on a contingency basis. That means there are no upfront fees for our research and assistance. If no funds are recovered, you typically owe nothing for our services.
If there is a potential claim, we clearly explain our fee agreement and make sure you understand everything before moving forward.
How long does the surplus funds process usually take?
Timeframes vary by state and county. Some claims can be completed in a few weeks, while others may take several months depending on the court, the number of parties involved, and how quickly documents are processed.
During your consultation, we give you an honest estimate based on your specific case and keep you updated on progress as things move forward.