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Updated almost 2 years ago on . Most recent reply

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Josh Corriveau
  • Charleston, SC
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Due diligence before foreclosure auction bidding (other than property condition)

Josh Corriveau
  • Charleston, SC
Posted

What due diligence do you do on properties before bidding at a foreclosure auction? I'd imagine ordering a title search, but what else do you check on? The properties I'm considering are primarily going to auction for the 1st lien, but I'm curious what else may need to be considered for other liens that could be on the property/anything else messy that would be important to know, other than the condition of the property, which is usually only available for an exterior look when driving by?

Thank you!

  • Josh Corriveau
  • Most Popular Reply

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    Wayne Brooks#1 Foreclosures Contributor
    • Real Estate Professional
    • West Palm Beach, FL
    13,508
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    Wayne Brooks#1 Foreclosures Contributor
    • Real Estate Professional
    • West Palm Beach, FL
    Replied

    @Josh Corriveau Depending on your state laws, other things you can inherit when buying at a First mtg auction…..current/past property taxes, past hoa fees with or without a recorded lien, code enforcement/utility liens that may not be recorded…and other possibilities depending on the state.

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