Foreclosure property?
Question:
I already went to the county's office to check the liens and taxes on this property, everything totalled to $0.00. How can I confim that this auction is certain? I have the defendant's attorney number, should I get in contact with him. HELP!!
Answer:
If the liens on the property totalled to $0, how could the property be foreclosed? If you don't know what you're doing you shouldn't be bidding or you can lose your shirt.
Forclosures are risky... As you must know. Well what I would do is contact an attorney and have the attorney contact the owners attorney.
Call an experienced RE attorney FIRST. Your search does not cover everything (among other things there may be a defect in the foreclosure proceedings) & you can be badly burned. The auction can be canceled for any number of reasons right up until the bidder pays the bid balance to the clerk or even after depending on various factors.
Talking to the defendant's attorney may give you some info. But talking to the Plaintiff's attorney may be more valuable. He can tell you if the sale is canceled. He may know of pre-existing liens, or you may be able to buy the judgment before bidding & thereby avoid competitive bids. You'd better have a r/e attorney & a real title search to do that.
You will owe some fees even if the balance says that there are $0 owed in liens.
The number one thing to be aware of is the condition of the property in question. Makes sure you have inspected the property and know what your expenses will be to do repairs if you should win the bid.
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