Best kept secret for under-market cheap properties?

[Ramon Wilson]

Hi BP, I’ve heard that los angeles county sheriff sales (not foreclosure auctions) - properties that are being auctioned by the sheriff because of a judgement against the owner or that have been confiscated by the sheriff for some other reason - are a good way to acquire properties for under market prices. I'm looking for advice, thoughts, guidance from people with experience buying at these sales.. Any major concerns / pitfalls to watch out for? Are existing liens wiped out or do they stay with the property? Etc.