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Updated about 9 years ago on . Most recent reply
Am I liable to pay for the HOA and other liens?
I am looking at property 8809 Stoneridge Circle 203, Pikesville, MD 21208 listed on Auction.com, Looking at the title information the 2015 taxes are not paid that should be around 2000. about 29,928 HOA lien. 2,1165.65 State lien 6092 bank lien. 23,896 other liens and he had a 210K loan/mortgage.
So my question is if i win a bid. do i have to pay all the liens? The HoA, state and his personal bank liens and what happens to the mortgage? The condo is also occupied I know the process for that but my concern is only about what i would be paying for.
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- Real Estate Professional
- West Palm Beach, FL
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Assuming this is an REO auction (not the actual foreclosure auction) the terms of the sale are buried somewhere in the sale description....generally they will pay all recorded liens and taxes that weren't wiped out in the foreclosure. Use Your title co. if you get the property. If it's the actual foreclosure auction, you'll have to research title to determine who gets wiped out and who doesn't. Please talk to a Local RE attorney.