Bank owned property with hospital lien or mechnical lien?
I found a few bank owned properties in auction site, but one house listed with hospital lien. Is this a concern ?
Never bought this kind of properties before, any help is highly appreciated.
Most Popular Reply
When a foreclosure is filed, all liens should be listed on the foreclosure case. Any subsequent liens after the foreclosure filing would be wiped out. I am not an expert, but consult a real estate attorney when buying these properties. Also, using a reputable Title Company will ensure that your property is delivered with clear title.
There are properties with "polluted title." Read the contract carefully to make sure that you are not taking subject to any existing liens. Or at least you should have an adequate due diligence and attorney approval time with the contract to protect your interests.