bought second questions!

[Jon S.]

I just bought a second at a ts in CA (it was a 2nd mortgage, not a HOA lien) The property has equity.

The first is scheduled to sell in a week. So I need to pay it off asap to keep it from selling.

How do I go about doing this? Lender is chase. Do I just call them up with the property address and ask for the payoff amount and go into a branch and write them a check? Is there anything else I need to do? - do I need to let them know I am the winner of the ts on the second (if so who would I even talk to?)

Then when I record the trustees deed the title should be clear? Are there any downsides to paying the first off before recording the trustees deed? (I don't really have a choice here due to time). I.E. if the second is un-done somehow and I have already paid off the first.

OR -
Since after winning the second I am now the owner of the property (and it has equity), if I allow it to simply go to auction and the bid is higher than the first, will I get the overpayment (or will the original borrower?) To do this I would simply record the trustees deed?

In the future if I buy a second is there anything else I need to look out for? Simply getting a preliminary title report showing only a 1st and 2nd with no additional liens (along with a NTS for the first showing the published bid) and checking for back property taxes?

Thanks!