Buying at the courthouse steps in NC

[Jorge R.]

As you can see, could not sleep well tonight...

I had been working with a seller for a home in the Charlotte area on purchasing her pre-foreclosure.  She ended up missing a hearing and was promptly scheduled for auction very quickly.

At this point, if I want to purchase the home, it will have to be at the courthouse.

I don't see any other mortgages on the title or code violations but I am sure my simple searches do not cover all of the possible pitfalls.

Woudl all liens be extinguished once I purchase the purchase the property?

[Kimberly Logan]

Hi Jorge,

Unfortunately, if the property is going into foreclosure for a mortage lien then lien survivability may allow any other liens to survive . This is because only the mortgage is being satisfied with the foreclosure. 

Please keep in mind that liens stay with the property.

Often times you are able to call and negotiate payment or other options with the lien holders.

I hope the information provided helps.