Co-op Auction?

[James W.]

Anyone with experience in Coop Foreclosures? There's a coop auction coming up in my area.

I wonder - if i win the auction - can coop board decline to give me ownership? If there's no deed - what will the bank transfer to me? Worst case the board does declne me - is my 200K gone in smoke?

Second question - fair assumption that coop units cannot have tax liens? I can only imagine past HoA liens. Any way to check them? The property has no named owner - so even paid title search may not be able to get lien information.