All Forum Posts by: Patrick Mong

Hi BP Forum,

I am considering to participate in a real estate auction in San Diego.  My question is about what the winning bidder must pay to fully take title of the auctioned property:

- Example: The winning bid is for Property A is $400,000.  Does this mean winner will pay $400K and any other administrative fees?  Is this $400K an all-inclusive payment?

- Example 2: What if Property A has unpaid mortgages, liens, taxes that the prior owner owed on the property and did not pay off?  Would the winner of the bid need to pay $400K PLUS the unpaid mortgage, liens, taxes for Property A?

Thank you for your input.

Patrick

Thank you Lisa, Dan and Rob for the helpful guidance.