Auction sale
hi all,
i see a property which i like, coming up in a sheriff sale in a couple of weeks. the judgement is about 2K and the plaintiff is the condo association. recent comps are about 100K.
what are my next steps?
1. DO I do a title search? Can I inspect the property?
2. If I win the bid say for 2K and pay it, will I own the property free and clear? i hear that all liens are wiped out except federal liens? where do i find out about that?
3. since the judgement is for a condo assoc, is that considered 2nd lien? should i find out if there is a first lien from the lender?
4. Any other thing I should consider or research?
am a newbie appreciate all the advice i can get.
thanks
vik