Updated about 11 years ago on . Most recent reply
Anybody lost over $100k in an online foreclosure auction ?
I am just curious to know if anyone has ever lost over 100k, by bidding on a property with multiple problems that you didn't know existed. For example, liens from the HOA, local municipality, claims from uncle Sam, cousin Harry, ex spouse, 2nd mortgage and uncle Bob etc etc etc. You obviously thought you were getting a bargain but inherited the problems, that became your responsibility.
Can you please share your experience, how it happened , and what did you go to mitigate the circumstance. Does any body have any advise to share in order, to avoid a huge financial mistake, when using the online auctions. Thanks in advance.