Foreclosure auction due diligence
I have done quite a bit of reasearch on here about these foreclosure auctions but still have a few burning questions before I go to my first one in a few days.
I am interested in a property going to foreclosure auction on the courthouse steps this week. I have called the county but got nowhere, called the auction company who confirmed the date and time, and I called the lawfirm listed on the notice who wasn't much help either. I also reached out to a title company I have done business with in the past and they quoted me $250 to do a title search on the property.
The major concerns I have are if there are any outstanding liens on the property. Can someone please explain how the foreclosure auctions work? Can I assume that if I buy it at auction that the bank with the lien on the home is taking that as their payoff as it would be in foreclosure? Or could I buy the house to later find out that I am taking over a lien that will need to be payed off by me now? The house seems to be in pretty good shape, and running my numbers I have come up with the max I am willing to pay. However, this does not include another $xx,000 lien that I don't know about.
Anyone have exerience in this space that they are willing to share with me. Thank you.
Any way for me to search liens on my own (free) to give me a good feeling about bidding?