Updated over 5 years ago on . Most recent reply
CA Courthouse Foreclosure Auction Questions
Hi Everyone,
I am new to BP and this is would be my first post, here it goes...I am looking to purchase my first property with a friend. Quick background on the subject property; To cut to the chase I am interested in a property that is up for auction tomorrow morning that I just found out about through a good friend. I called around and no one can pull a title report in such a short time period. From what I know, the owner is deceased, the property was left vacant and destroyed in a fire by squatters. (Now it is a lot with some (non-human) charred remains to clean up.) On the online auction sites it hints that there is still a home yet I know for a fact there is not.
Local tax collector says property taxes are current (assumably paid for by the bank holding the note?)
I know what I am willing to pay and know the comps in the area etc. I am also aware of the auction being an all-cash sale.
With only hours left before the sale, what does everyone on BP suggest I do as far as due diligence? Also, if there is an IRS lean how can that affect me if I were to win said auction. (I know they have a 100 or 120 day window to purchase the property for what the winning big was.) I can live with the IRS reimbursing me but I would hate to owe them someone else’s debt. Thank you all in advance!!!
Kris Osborn