Questions about purchasing from auction.com...
Hi- I have been doing a lot of research and want to get involved in property investing. I found a SFR on auction.com that is appealing. They have a report from an attorney posted that shows about $1,000 in tax is "still due," and that shows an $18k lien from a home improvement company and a $228k lien from the lender. It also shows 4 small "judgements and liens." It looks like 3 of them are probably state tax liens (GDOR) and the county has a small lien.
I am intersted in bidding on this property, but am trying to understand what I would be responsible for. I have read that, in some cases, the first lien supercedes the second lien, and the first lien wipes away the others (the home improvement one) when a property is foreclosed. How would I understand if the $18k lien would need to be satisfied?
I assume I would have to satisfy the outstanding tax, and the 4 judgements from GDOR and the county. What is the best route to make sure there are no other liens or obligations that this law firm might not have detected?
Thanks in advance for any help you can provide!