- September 11, 2019
- Posted by: admin
- Categories: Auctions, Buying Property At Auctions, Client Question, Foreclosure, HOA, Liens, Property Lien, Purchasing Foreclosure Property, Real Estate, Real Estate Post
Question: Property is being offered for foreclosure next Monday. I went to the courthouse yesterday and I found the HOA liens were foreclosed previously. I’m not sure whether the HOA lien will be wiped out next Monday or however won the HOA lien foreclosure will win the property.
Response: Is the property being sold at auction because the homeowner’s association exercised its right of foreclosure or are you saying that happened previously and this foreclosure is related to something else? In some states, when an HOA exercises its right to foreclose, the liens are paid out of the proceeds of the auction sale. However, it depends on the relevant laws in your state. Please forward to me a copy of your report so we can review the information and point you in the right direction.
Customer support team