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Updated about 7 years ago on . Most recent reply
Buying condo at courthouse auction
I have never bought a property at a courthouse auction but see a condo coming up for auction shortly. The condo is being foreclosed by the condo association. What are the pitfalls of me getting into this transaction? What due diligence should I do? Could there be bank liens still in the property that is being auctioned and how can I check those?
Thanks for any tips.
Most Popular Reply
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Be very careful to understand the priority of liens in this sale... and whether you are buying subject to an existing first mortgage, etc. See https://docs.legis.wisconsin.gov/statutes/statutes...
- Tom Gimer
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