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Updated almost 10 years ago on . Most recent reply

David P.'s profile image
David P.'s profile image
David P.
  • Wholesaler
  • from Westminster, Colorado
  • Member since May 13, 2013
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224
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David P.'s profile image
David P.'s profile image
David P.
  • Wholesaler
  • from Westminster, Colorado
  • Member since May 13, 2013
Connect
David P.
  • Wholesaler
  • Westminster, CO
76
Votes |
224
Posts
Foreclosures

Foreclosure Auction

David P.
  • Wholesaler
  • Westminster, CO
Posted

I was looking at a foreclosure auction - where the HOA is foreclosing on a property due to non-payment for association fees (approx $10K). It appears that the Bank (1st) has not started the foreclosure process yet, and wanted to know if I win the bid what right does this give me as I would own the 2nd? Apparently, the owner is no longer in the property - the property is empty. Can I rent the property out until foreclosure happens? How do I go about getting my initial investment back?

Thank you in advance!

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