Buying at auction - Debt

[Michael B.]

Hi everyone!

I have a question about auction.com or purchasing a property at auction. I noticed that they state on some properties "total estimated debt" which is sometimes followed but a number in the hundreds of thousands or even millions! If a property goes up for auction, does the buyer, or winner of the property up for auction, take on the estimated debt as well? Are there situations where this debt would be dropped? I am just trying to understand why someone would take on all of this debt tied to the property as well as the winning bid at auction? I hope this makes sense. Thanks for all of your help!!