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19
Posts
7
Votes
Carol Lam
7
Votes |
19
Posts

Buying foreclosure property as primary residence

Carol Lam
Posted

I found a foreclosure property with the following info:

Opening loan balances: 1.2 m

Starting bid: 1.2 m

Market value: 4.5

Income tax lien: 250k

Say, I won the bid at 2 m (impossible I know), that would clear the opening loan balances against property?(1.2m)

But I would need to pay back 250k back taxes?  There’s a way to find out how to settle these liens?

Thank you.


carol

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