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Updated 11 months ago on . Most recent reply
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County Auction Purchase, Checking for judgments, priority mortgages, taxes or liens
Experienced investor, first time auction bidder...
Hello BP family, I'm venturing into county auction sales but this is what they stated in their Q&A section (Below). It says to "do my homework, but how exactly should I do it? How would I find out if there are any other encumbrance on the home prior to submitting bids? Should I enlist the help of a title company? Are there reputable sites that would have this information?
Does the foreclosure sale erase all other liens on the property?
No! There may still be other encumbrances (judgments, priority mortgages, taxes, or liens) that survive the sale. Please note you must do your own research for each property! The winning bidder takes title to the property subject to all defects, liens, encumbrances, and matters of which he/she has or could obtain knowledge. It is the bidder's responsibility to perform all research regarding the property, including the value, title defects, liens, mortgages, or other encumbrances. The Clerk and Realauction are not responsible for the quality or accuracy of any informaton provided on this or any linked site. The Clerk's office does not guarantee a clear title and is not responsible for any encumbrances on the property purchased at auction.
Thanks everyone in advance!