There is a property I am interested in, and it will be auctioned at the courthouse next tuesday, so I order a title search.It shows only 1 lien for $amount (I don’t know the current balance of the debt), originally taken out by Barack Obama and later the loan was assumed by Donald Trump when he bought the house from Obama.

Or should we look to get some cheap land via auctions?

Im a total newbie going to a foreclosure auction in Dallas and Collin county in Texas next month with my business partner. 

We buy property at auction daily.

Sales have been for about 126% of assessed value.So there is a margin of about 24% from buying at auction and fair market value.

They do not want it, or know what to do with it and it'll be sold at fire auction.

Thank you Jon for your help.You are right.I will get a quit claim deed .I got it from online auction and when called to ask is this a REO or short sale they didn't know and give me a number to HOA .When i called and ask is there is back HOA fee i have to pay they said YES there are back HOA fees to this unit.Problem was i didont told them which unit is mine....out of 170.There is other unit on next floor and i made a offer with a realtor.Its few times higher in price but i got garantee all back fees are paid before closing with title company.

I was thinking the foreclosure auctions offer the best deals but I worry about getting a house with major problems.

Just curious what were to happen if the owner whose taxes were sold at the auction filed for BK shortly thereafter.Would that prevent tax lien holder proceed with foreclosing on the property after the redemption period is over?

The property is scheduled to go to auction on May 11th, but we need to be moved out of the property by April 30th.