@Leslie Fisher Not always correct, it depends what position the lien that is foreclosing is in, and if they have any superiority, if a first lien forecloses, all junior liens are foreclosed out, there are a few kinds of superior liens, like property taxes, and municipal charges, water bills, snow removals or noxious weed cuttings. as well as cretin other tax liens, like federal or state tax liens for things like unpaid sales tax, withholding, and sometimes delinquent income tax, there are often remedies to get these removed after the fact, but there is no guarantee the taxing authority will release it. Also you cannot legally gain access prior to sale for inspection, so you get what you can see from the curb. when you bid at sale in WI you need 10% cash or cashiers check made out to the counties clerk of courts on your person at time of sale (can't run to the bank to get it) you then must wait till the confirmation, and then you have 10 days to pay the balance due (remaining 90%) to the clerk of courts, plus the transfer fee (in most cases as of late anyway) and the recording fee for the deed. once you have done those things you may take possession, you are also entitled to a Writ of Assistance if occupied. but if the occupant has a current binding lease you may need to abide by it. Also Personal property left at the property may not be yours to dispose of, you may wish to seek legal counsel to help make that determination. I have purchased 28 or more (cant remember all of them) homes at Sheriff Sales, in 8 different counties, and have attended in at least 10 other counties where I was not the successful bidder. It is not for the faint of heart, and you can lose money, or at least screw up badly if you miss something. you also need cash to pay the balance, or good relationships with a lender that will play ball with you, I have been fortunate, I have had several bankers fund theses deals based on drive by BPO, but definitely not something I recommend for a new investor.
