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Please read if thinking about bidding on one of these properties

Bob left out the most important consideration when buying a foreclosure home listed for auction sale with the county. Sure not being able to inspect the property is a very important facet of buying a foreclosure, but even more importantly is knowing exactly what you are buying. The properties being auctioned by the county do not have clear title. When bidding $35,000 on a property at one of these auctions not only are bidding on the actual property, but you may also be bidding on the right to own a $100k 2nd mortgage lien, $20k in personal tax liens, and $5k in property tax liens. DO NOT BID ON ONE OF THESE AUCTION PROPERTIES BEFORE TRYING TO DETERMINE WHAT OTHER LIENS ARE TIED TO THE PROPERTY AND WHAT THE LINEAGE OF THE LIENs ARE TO SEE WHAT WOULD TRANSFER WITH THE TITLE AND WHAT WON'T. If this does not make sense to you hire an attorney to do a title search prior to bidding.


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