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Updated over 1 year ago on . Most recent reply

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Marci Stein
  • Rental Property Investor
  • New York, NY
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Auction.com leins experience?

Marci Stein
  • Rental Property Investor
  • New York, NY
Posted

I am preparing to attendmy first auction.com sale .
for those of you who have bought from them ,

have you had any problem with liens unpaid?
Is it necessary to do a title search for every house I bid on ? 

Thanks very much !

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

@Marci Stein Is this the actual foreclosure auction….or an REO auction? Auction.com does both and the potential risks are different. Generally, the REO auctions are done with clear title delivered, along with title insurance. I have seen though where a couple wer being sold subject to county code enforcement liens though. If it's an REO auction, do Not use their title company, despite the supposed savings. They are sloppy, charge a bunch of extra fees and do a bare bones title search/commitment (which excludes unrecorded but active code enforcement/utlity liens).

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