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Updated almost 6 years ago,
Purchasing Sheriff Sale Foreclosures
I’ve been trying to purchase real estate through the County Sheriff Sale process for about a year now as an additional method to flipping/wholesaling properties. I’ve successfully flipped 1 property and wholesaled another in 2018 through this source so I’m not entirely a newbie to this process however there is still many things I’m confused about. I understand that this approach comes with many buyer beware flags but in this competitive market I feel this route minimizes the competition and could be the most lucrative.
I have a few questions that hopefully those more experienced can answer, Please help!!!!
- What is the best way to discover all the liens on the property such as 2nd liens, current owner tax liens, property tax liens etc. (I’ve tried the public search but it’s very confusing searching it on your own)
- Do federal tax liens survive foreclosure and will they need to be paid before you flip or wholesale the property?
- Do 2nd liens such as 2nd mortgages or Lines if Credit survive foreclosure on the 1st lien or do they get wiped out from the title of the property once your deed is recorded?
- What’s the best method to getting all the information on these properties so your fully aware of any and all title issues?