Does anyone have experience with the courthouse foreclosure process. I am bidding on a property that is being foreclosed upon by the first lien holder, however the final judgement amount is 120k more than the assessed value ,and i like the property . i have a certain number in mind that i want to pay and it is obviously way lower, because i need to make a profit.
My concern is, if i win the bid, and it is lower than the final judgement amount, is there going to be any repercussion or risks ? no other lienholders or hoa problem.
Nope. Whatever the property sells for at auction wipes that mtg from the property, with liabilities for it for the buyer. You’ll have any current or past unpaid property taxes though.