Foreclosure auction ...

[Peter Matus]

Hi there,

I have maybe stupid question about foreclosure auction of property...I searched all possible documents and info and this SFH with all debt (1 and 2nd mortgage,HOA,attorney and legal fees and interest is around 500K...How much of these potentional winner of auction will be responsible to pay for..if in the same area you can get fairly new house for 350K?

[Chad U.]

Quote from @Peter Matus:

Quote from @Luis Maqueira:

There are many variables on a Foreclosure, 

When you buy the house at court you are also buying all the attache liens to the house. 

If you are new to investing look for local groups, local investors that are already doing it.  Many will charge for the services they perform but will be worth it. 

A mistake when you pay full cash at the court ... could be expensive. 

 thank you...same goes with online auction?

No you don't 'buy all the attached liens to the house".  It depends on who is foreclosing.  Don't post false info if you aren't familiar with the process.