Has anyone here bought a property at auction due to an HOA foreclosure?
• Were you able to take over or make payments toward the existing mortgage, or did the bank move to foreclose after?
• How did you find out the mortgage balance at the time of auction to calculate equity and set your max bid?
I heard buying properties foreclosed by the first mortgage is the best option. Do you agree?
Sheriff Sale – HOA Foreclosure
byu/Positive-Custard-481 inrealestateinvesting
Posted by Positive-Custard-481
2 Comments
Is the property now occupied? Sale forced by HOA is NOT a true foreclosure.
What is status of the existing mortgage on the property?
How much will it cost to clear the liens by both the lender & the HOA?
Too many unanswered questions to provide any definitive answers.
Depends on the lien position