Hello all, I recently purchased a condo on the east side of Madison from a foreclosure sale auction.

But all interpret their own states foreclosure laws.

This was a great way to keep the home in the family and avoid the house going into tax foreclosure.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $150,000

Cash invested: $90,000

Bought as a forclosure gut job. Renovated it, lived in it for 2 years then m...

Foreclosure auction buyers cannot walk the property and have no idea of its condition.

Does the Sheriff’s Sale combine both tax sales and mortgage foreclosures?

If indeed it is stated that the second lien foreclosure is subject to the first, then no, the first will NOT be paid off. 

It as a foreclosure that was priced right. 

the little nuances one learns in the foreclosure bizz... states with redemption rights are very tricky... in Oregon the rights sunset after 6 months.. so many investors if they don't have the rights ( ie can't find the person who lost the house) Or does not want to pay someone who bought the redemption rights and is holding them hostage.. they just wait out the 6 months and go about their bizz...

I've litigated personal injury cases (plaintiff's side and ID), business disputes, commercial debt, consumer debt, fraud, civil rights, contested foreclosure, real estate disputes, and landlord-tenant cases.For the past year and a half, I have been spending most of my time digging into small business acquisitions.