When you buy any lien you own the rights of the lien claimant. That lien is "secured" by the real estate. When you foreclose on the real estate, you are enforcing your lien. Selling the real estate at a sheriff sale auction means that whoever buys the real estate at the auction pays the auction price and the money from the price then goes to pay the lien(s) that caused the foreclosure to occur. You can force real estate to go to sale at auction like that but it does not mean that you will end up being the owner. The eventual owner is the person who buys it at the sheriff auction, but even that person still may have to do other things to gain a clear title, depending on how the foreclosure occurred. For instance, if not all of the liens or interests were named in the foreclosure, then the acquired ownership may not be total or clear. If you are new at this process of buying real estate at a sheriff sale, then you would be better off talking to a real estate or foreclosure defense attorney and getting a good understanding of how all this works before you start dabbling in it, so you don't waste your money. You need to talk to a local Foreclosure Defense attorney near you right away. Call your local attorney's Bar Association and ask for a referral to a Foreclosure Defense attorney near you or you can go to this web site page for a Free Online 50 State National List of Consumer Law Lawyers (http://www.naca.net) and find one near you (lawyers don’t pay to get listed here and they are all members of the only national association for Consumer Law lawyers, NACA.net). But act quickly because for every legal right you have, there is only a limited amount of time to actually file a lawsuit in court or your rights expire (it's called the statute of limitations), so don't waste your time getting to a Foreclosure Defense attorney right away and finding out what your rights are. If this answer was helpful, please give a “Vote Up” review below. Thanks and good luck. Ron Burdge, www.BurdgeLaw.com
This answer is for general purposes only and does not establish an attorney-client relationship. Click the link to find a Consumer Law attorney near you.