Newbie here with questions/concerns. Any advise appreciated!

[Kelley Wales]

Hi everyone. I am new here, and new to real estate investing. There is a property local to me which is listed on an auction site. I was considering trying to pick up this property, but am concerned about the title. I understand the basics of foreclosures, but in no way claim to understand all of the nuances. I have added information from the title report. Someone please get out their crayons and explain to me exactly what position this puts me in if I were to purchase said property. I am concerned about the lien shown & the fact that they filed bankruptcy recently.

Thanks in advance for your time & patience.

[Brent Coombs]

@Kelley Wales, so, if it's supposed to be worth $76k, but has a lot more owing on it, and is only worth say $45k to YOU, guess what your Offer should be? That's right, no more than $45k!

And your Offer would make it clear that it's contingent on gaining CLEAN Title.

Then, let the chips fall where they may. It should mean NOTHING to you that it's a short sale or a pre-foreclosure or a foreclosure. NEVER offer more than it's worth to YOU! All the best...