Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Karl Yousef
  • Miami Beach
1
Votes |
4
Posts

Auction Foreclosure market: Order of purchased liens

Karl Yousef
  • Miami Beach
Posted

Hi all, 

Happy New year. 

My question is regarding auctions. I'm looking at an Auction sale for a condominium in Miami. The "final judgement" price is $43,000, which is levied by the Condo Association for unpaid Special Assessment fee's. The Condo owner also has a First and Second mortgage, which have issued Lis Pendens, but have not put the home up for auction. If I purchase the $43,000 lien, I am only purchasing a third position lien which does not give me rights to the title of the home, is that correct? How do I know if the lien I purchase gives me rights to a home at auction? Thank you all for any help. 

Best,

Karl

Loading replies...