help me interpret this, please.

Foreclosures, Short Sales, Tax Foreclosures
1

This is a portion of a forclosure judgement describing terms of pay after the auction is won (Jefferson Co KY):

"FOR ONE-FOURTH CASH PAYABLE AND COMPLIANCE WITH BOND PROVISION OF K.R.S. 426.705; WITHIN REASONABLE TIME NOT TO EXCEED THIRTY DAYS FROM DATE OF SALE; BALANCE DUE WITHIN SIX MONTHS DATE OF SALE, the property described herein below.
The unpaid portion of the purchase price bears interest at the rate of twelve (12) percent per annum from the date of sale. When the purchase price is paid the deed will be delivered.
"

Do I understand this correctly? I need 25% at the time of auction. If I pay the rest within one month its interest free but I can choose to pay within six months and pay %12 interest. That would be pretty nice terms.
I wander if it is possible to start doing the work on the house before getting the deed.

The reason I’m asking is there is this one house (right next to my house) I would love to buy. The auction is tommorrow and I’m expecting larger sum of money within 2 months.

Thanks for your comments.

2

I read that as you need to pay 25% within 30 days. Then you get 6 months after the date of sale to pay the full amount. There’s probably another part that says what you need to pay the day of the auction. I’m sure you have to pay something to reserve the property. It sounds like you are charged interest any money owed after the date of sale.