Skip to content
Foreclosures

User Stats

38
Posts
14
Votes
Jason Farr
  • Investor
  • Portland, ME
14
Votes |
38
Posts

Identifying LEINS

Jason Farr
  • Investor
  • Portland, ME
Posted Apr 12 2015, 10:11

I am looking at a condo for sale at auction.com.  They provided a partial title search report document.  It stated there was LEIN which I found details on from the County Register of Deeds for unpaid income tax of about $1500.  There were 2 other liens from a previous owner (not the one that was foreclosed) for about 3k owed to the condo association.  I would assume these were paid of because the last deed issued when the current owner bought the condo there was a warranty deed issued?

There was also a foreclosed document noted in the the provided title report that says "see attached" but they did not include that information.  I called auction.com as well as the title company that ran the report and they were not willing to give me a copy of the foreclosure document.  I did find a a foreclosure document on the County Register of Deeds website which shows that there are 2 priorities for the payoff the 1st being the bank that holds the mortgage with interest fees etc.. the amount owed probably willbe greater than the fair market value of the condo by about 20-30k.  The 2nd priority is for the condo association for roughly 18k.  There is also bank listed as a named party but did not respond to the notice (looks like a 30k mortgage).  

My questions are:

When the bank sells the foreclosed property and there most likely will not be any paid to the 2nd priority ($18k condo association), can they come back and put a LEIN on the property?  Also, are there other places to check for LEINS other than the County Register of Deeds?  

Also, I did call the property management company but they were not willing to answer any questions until I won the auction.

Loading replies...