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Updated over 9 years ago on . Most recent reply

User Stats

807
Posts
474
Votes
Nat C.
  • Investor
  • Miami, FL
474
Votes |
807
Posts

Need urgent advice on foreclosure auction

Nat C.
  • Investor
  • Miami, FL
Posted

I am really hoping someone can give me a quick response to this troubling question. The auction ends in 4 hours.

A 2 bedroom condo in a very exclusive building has a final judgement order of $178,000

Property market value is around $463,000.

Court records show the plaintiff is the first mortgage.

HOWEVER the online auction portal also lists the following defendants-

DEFENDANT

Suntrust Bank (na),

DEFENDANT

John Doe

DEFENDANT

One Miami Master Assn Inc,

DEFENDANT

One Miami West Condo Assn Inc,

Now Suntrust Bank at no point has a mortgage on the property in the county records.

Similarly the condo associations listed don't have any liens or any mention at all in court records. I don't understand how they are listed as defendants? This would be a steal of a deal at $178,000 but I'm scared about the defendants listed. Help anyone?

Most Popular Reply

User Stats

94
Posts
23
Votes
David Mitchell
  • San Luis Obispo, CA
23
Votes |
94
Posts
David Mitchell
  • San Luis Obispo, CA
Replied

Have you run an official title search on the property.  That deal sounds too good to be true.  I would double check that it is the first mortgage foreclosing.  Spend the $100 to make sure you don't make a mistake on this one.  Just a suggestion.

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