Purchaser's Affidavit
(Foreclosure) (Third-Party Purchaser) (MD)

Summary

This purchaser's affidavit template may be used in a Maryland foreclosure of residential or commercial property under a power of sale provision in a deed of trust and the purchaser is a third party who is not the lender or an entity designated by the lender. This template includes practical guidance, drafting notes, and an alternate clause. Following a foreclosure sale in Maryland, execution of a purchaser's affidavit is required pursuant by Md. Rule 14-305(b). When the property is purchased by a third party, the purchaser's affidavit is traditionally executed immediately following the sale. Therefore, it is common practice for the person conducting the foreclosure sale to bring templates of the purchaser's affidavit to the sale. If the property is purchased by a third party, the information needed to complete the purchaser's affidavit is entered immediately following the sale and the affidavit is then executed. After execution by the third-party purchaser, the purchaser's affidavit is traditionally submitted to the court by the substitute trustee. For further guidance on foreclosures in Maryland see Commercial Foreclosures (MD), Residential Foreclosure: Preliminary Steps and Filings (MD), Residential Foreclosures: Foreclosure Sale and Post-sale Actions (MD), and Foreclosure Resource Kit (MD).