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Questions about buying foreclosures at auction
We're investors in multifamily and commercial (retail). But we're looking to break into SFR's via the foreclosure auction in our market. I have a few questions below, I'd be very grateful if someone can answer them, or at least point me in the right direction to get them answered. Thanks!
- 1. How do you find out how much you need to pay at the courthouse? Auction.com in our market typically says 10%, how do I confirm this?
- 2. Who do you make the cashiers checks out to, and what denominations do you bring?
- 3. How do you find the amount of debt on the property?
- 4. How do you find out the exact amount the bank needs?
- 5. How do you find out if there are any other obscure liens on the property? For instance: Title lien, First mortgage (or other), HOA, Mechanics lien, Gov't lien, IRS lien, Environmental lien, utility lien, code enforcement lien, child support lien