Risks by second lien when first lien has foreclosed on home

[Devin Bobulski]

Thanks in advance for the advice.

There's a home that is close to my primary residence in Wisconsin where Wells Fargo has foreclosed on the first lien. The sheriff's sale has been delayed over the past 6 months and looks to go this week. I had a title firm run a search and found that Quicken has the second lien and has filed paperwork to foreclose 3 months after Wells Fargo completed their foreclosure. My understanding is that the second lien has no bearing after the sheriff's sale. They will get any money that is made above what Wells Fargo recovers on the sale. Is this correct and is there anything else to watch for? The property is vacant and winterized so the odds are the house will be a great rental for BRRRR strategy.