HOA Purchase first timer

[Ivan Dudley]

So my question is if I bought a house that the HOA had already foreclosed on and they sold it to me on quit claim deed does the previous owner have rights to come and sell this house after they foreclosed on him. Also what are my options when it comes to the mortgage liens that are on the home? Is there a way to get a clear title?

[Wayne Brooks]

I don't know NC laws, but I've give odds the mortgages remain with the property, and the HOA is looking for a sucker. Of course, there is the "buy it to simply collect rents til the bank forecloses", but if that seemed viable, some investor would have bought it at the auction. This based on Florida knowledge, but most states will have the same laws. Nevada is the only state I know of where, in some cases, this wouldn't apply. Obviously, you need to talk to a local RE attorney.