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Updated over 2 years ago on . Most recent reply

User Stats

8
Posts
1
Votes
Tommy Volpe
  • Investor
  • Buffalo, NY
1
Votes |
8
Posts

Questions about buying foreclosures at auction

Tommy Volpe
  • Investor
  • Buffalo, NY
Posted

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. 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. 2. Who do you make the cashiers checks out to, and what denominations do you bring?
  3. 3. How do you find the amount of debt on the property?
  4. 4. How do you find out the exact amount the bank needs?
  5. 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

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