Help! Courthouse Step Auction Question
I'm going to attend an auction at the courthouse steps. The as says "Dwelling is sold in "as is condition" and subject to all superior covenants, conditions, liens, restrictions, easements, right-of-way, as may affect same, if any. What does that mean? How do I find out if there are any liens superior? Or is this standard stuff?
It depends on who is foreclosing. If the 1st lien holder is closing then.....any taxes or anything else federal attached to the property still remains and if you buy it, you own it (the house and the federal debt.) Federal takes precedent over everything. However, 1st takes precedent over 2nd, 3rd and so forth. So, do a title search at your local County Admin office to see if anything types of judgements, taxes, etc...are owed on the property before you buy it. Never buy blind. Get the list of homes as soon as possible and give yourself time to research before going to auction.
There is such a thing as a bad investment. And it is no fun, believe me.....I know. :-D