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Updated over 7 years ago on . Most recent reply

User Stats

53
Posts
32
Votes
Uchenna A.
  • Real Estate Agent
  • Bowie, MD
32
Votes |
53
Posts

Trying to buy a foreclosure that has liens (car dealership also)

Uchenna A.
  • Real Estate Agent
  • Bowie, MD
Posted

Hello Biggerpockets Family,

I am trying to buy a house in an auction and I see the house has a ton of lien (including a 40K lien from a car dealership). My question here is - if I win this property and get a "Special Warranty Deed", will I be required to pay the dealership and the rest of the liens?

Thank you!

Most Popular Reply

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3,467
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3,417
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Tom Gimer
  • DMV
3,417
Votes |
3,467
Posts
Tom Gimer
  • DMV
Replied

This is a mess.

There is a $73,000 DoT in first dated 8/11/05 but not recorded until 1/27/06.

There is a $100,000 DoT in second dated 1/20/06 but not recorded until 2/16/06. 

The trust being foreclosed is a $288,000 in third dated 2/3/06 and recorded 4/28/06.

The title report has been provided for information purposes only.

Have a close look at all of those dates and tell me if you want to touch this thing. I could guess as to which liens are truly open vs just unreleased... but that's not how to properly play this game.*

If there was a title commitment to review, totally different story.

*I didn't even get to all the HOA liens.

  • Tom Gimer
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Eastern Title & Settlement
4.9 stars
13 Reviews

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