Home search auction

[Colin P.]

Hi guys my name is colin and i live in south florida. My fiance and i are looking to buy our first home thats listed on home search. We did our due diligence and had an inspection done as well as a title search by a lawyer friend of ours. Inspection came out great. However, the home has an hoa lien on it filed in 2013 for 15k. My lawyer said because the bank took ownwership in lieu of forclosure that the lien does not get wiped away. 

The home search auction and bank provides a special warranty deed. Now since the bank took posseion in 2012 and the lien was filed in 2013 would the bank pay it off prior to closing? Evereyone i spoke with says they pay it most of the time. The listing agent said we will be provided clean title. Green light loans who advertise loans for home search auctions (who we are not going with) also says we get clean title. Its just my lawyer says we are at worst joint and severably responible if they dont pay.( have to pay half) I spoke with the hoa. They said worst case if the bank does not pay submit and offer to pay off the lien. We need clear title for our loan to work. 

Has anyone had homesearch pay off a lien or any other auction company do the same? From what evereyone is telling me they "should and usually do" but my lawyer says they dont have to. 

Let me know if any of you have advice for us as this will be out first home purchase and if we get it for the right price it will be a great deal. 

Also if you have any info on green light loans as i read horror stories about them but they claim to have more leverage  (able to get liens paid, no appraisal fee, get bank to fix things that come up during apprasial etc) since nation star owns them, home search and has some stake in the property. Its owned by bank of mellon and service by BOA. 

Thank you!!!!

Colin

[Colin P.]

Hey guys! 

I just want to let everyone know that we closed on the house. Over 15k in liens were paid by the bank that owned the property. They actually paid out over 30k at closing for various things.  The house appraised for 40k over the purchase price as is. (It was missing all the appliances).  Other then that its basically brand new and in perfect shape. It was built in 2005. 

Who ever bought it paid the pre construction price and tried to flip it for more. That did not work so they rented if for a year or 2 and then abandoned it. 

I think  I did pretty good on my first home purchase. 

Thanks to all who answered my questions!!! 

Best,

Colin