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Updated over 5 years ago,
Buying Property at an Auction site
I'm trying to buy a property at auction.com, but when i ordered a preliminary title report, it appears that the property has 2 tax liens and 1 HUD lien on it in addition to the mortgage balance. Auction.com does not disclosed the reserve amount, however the property starting bid is $200K and ARV is about $700K. More than likely this property will probably get bid up to $400K. My question, is the winning bidder stuck with the liens if they get the property? Also is there any other way to find out if all liens on the property will be cleared by the seller before closing.