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Updated 11 months ago on . Most recent reply

User Stats

4
Posts
11
Votes
Albert Massop
  • New to Real Estate
  • Rockaway Park, NY
11
Votes |
4
Posts

Condo going up for auction

Albert Massop
  • New to Real Estate
  • Rockaway Park, NY
Posted

There is a condo that is under my primary residence, (up down condo, townhouse set up), that I wanted to buy for a while. The price was too high, initially wanted to combine the units to make a duplex. Was notified recently that the condo is going up for auction in 2 weeks, I want it! I have a few questions, are liens satisfied with the winning bid? Upon winning the bid 10% needs to be paid in cash or bank check, when would the balance be due? ( Can't find any info online for the NYC market) Is there a process to try and get the property in a short sale before it goes on auction, If so who needs to be contacted? I know it's a lot but this opportunity came up quickly and I have limited time to move on it. 

Thanks in advance

  • Albert Massop
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