Won On Auction.com Proceed or loose $5000.00

[Sheri R.]

Some background: Property was foreclosed on by the bank, the mortgage holder. The property did not sell at court auction and was then owed by the bank. Bank listed property on auction.com as bank owed reo. I find out whats going on from my daughter. Daughter lives in the house and has been notified eviction notice from the house within two weeks. The property was owned before foreclosure by mother of daughter( my ex-wife divorced in 1973). Around 2009 a dispute between my ex-wife and the bank started. Accusations made by ex-wife that someone at the bank had forged her name on second mortgage documents. Ex-wife stopped making house payments in 2009 and the dispute continued until foreclosure a couple months ago. Ex-wife has medical problems and daughter moves in with her to look out for her. I decide to help daughter stay in the house when I find it listed on Auction.com for bank owned property sale. Next day I go to court house and find two IRS liens against the property amounting to $300,000.00. The 2 day auction begins the two days later and I won the bid. Because of the Christmas holidays, I was unable to see attorney for advice. I made the offer and won the bid realizing that I could back out of the purchase and loose $5000.00 in earnest money and Auction.com fee.To further confuse me, I learn that my ex-wife is is the middle of Chapter 7 bankruptcy proceedings and her next hearing is 3 weeks away. I am hoping that I can complete the purchase for my daughters sake. Hoping the IRS liens have been discharged prior to the bank selling it to me. There are also a few other potential problems I face if I proceed with the purchase. I won't go into those now. The IRS liens worry me enough for now. Hopefully, I will get some feed back  and guidance from BP members.