I haven't bought any homes on Auction.com but am pretty confident in the over all elements within the site. The property is occupied however I am versed on the situations that will exist. Considering I win this auction, all liens will be satisfied out of the proceeds of the auction correct? Here is the title report provided. If any one can see if I missed anything. Really do appreciate it! Thanks
Not all auctions on auction.com are same.
1. What kind of deed are they offering? Quit claim or special warranty? If quitclaim simply runaway!
2. Depending upon the bank they might make you take care of code violations /ongoing litigations etc.
3. Who is living there? Previous owners? Tenants? Squstters? Need to set aside cash for key.
4. How is the outside condition?
5. Are there IRS liens?
6. Hire your own title company and get title insurance. The title insurance they offer will have excpetions.
7. If single family home do a survey and check for boundary violations etc.
Unless you are getting a sizable discount this may not be worth the effort.