Buying foreclosure during 6 month redemption period
I am purchasing a home that is off-market. We close pretty soon and I just found out that there is a foreclosure judgment on the property. The seller says the sale of the home will take care of that balance.
And I found out there is a large water bill, a $600 special assessment, 2nd mortgage on the property. All of which the title company has accounted for in the preliminary statement. The title company is still waiting on his 1st mortgage payoff info..
I also found out the judgement was entered 6-19-2019 for a "6 month redemption period"
-My question is, is this all going to go as smoothly as it seems? I have never dealt with a property in this stage of foreclosure and one with a 1st and 2nd mortgage.
Im just trying not to get screwed! Is there anyway the seller could be pulling one on me somehow? Purchasing the property from me then redeeming it himself with the funds?
Not sure how it all goes! Looking for any help, thanks in advance!