Foreclosure and Tax Lien sales - NY State

[Jimmy Mooney]

This may not be NYS specific, but I'm looking to invest here so I've been going to the auctions at the Brooklyn courthouse.

My question is: When you buy a property at the courthouse auction, the paperwork talks about a mortgage balance, judgement, tax lien, etc. Do you have to satisfy these debts in addition to the auction price, or are you essentially buying a 'clean' property if the state is auctioning it?

Followup question: Can there be title issues with these types of property or is the state essentially selling it with a clean bill of health?

Last question: You have to give 10% down in cash or check at the courthouse. Can the final 90% be financed through traditional financing? Does it change depending on if it's your primary residence or investment home?

Thanks!