Liens and Auctions, are they whipped off at purchase

Foreclosures
5yFollow

Liens and Auctions, are they whipped off at purchase

Javier Rosales
Rental Property Investor · Los Angeles, CA · Member since 2019 · 160 posts · 58 votes

Hello BP, I’m looking to bid on a home at an Auction.

Home is a 3bed 3bath opening bid is 127,000

First lien is at 506,800

Second lien 63,400

The second lien is being foreclosed on.

And the buyer is responsible for first lien.

Does that mean the buyer takes over the first lien subject too?

I would appreciate any feed back

0Reply
19 views

1 Reply

Jump to latestLatest
  • Kao Saeteurn
    AZ · Member since 2018 · 78 posts · 40 votes
    5y

    @Javier Rosales

    It doesn’t sound like the buyer takes over the first lien since the first lien is not being foreclosed on. The way I see it is that you would just buy 2nd position on this property.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free