when buying a home through a foreclosure auction held by the court sometimes right after the winning bidder has paid for the auction during the 10 day period to issue the new title the is alien filed by some lien holder hoping that the new owner gets stuck with this note.
how legal is this practice and how can someone protect himself from that.
Residential Real Estate Lawyer
It depends I on the nature of the lien. For instance HOA and condo debts are not extinguished by foreclose. The debt runs with the land.
Seek legal advice from a real estate attorney before trying this.
This communication is not intended to create an attorney/client relationship. It is always recommended you consult an attorney in person to discuss your case. The Law Offices of Stage & Associates practices state-wide and represents homeowners and community associations. Please visit our website at www.stagelaw.com.
you should conduct a title search at the courthouse where the property is located before bidding on a home