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Originally Posted by Porsche-O-Phile
Just curious - if you go that route and buy through an agent, is the agent on the hook if you later discover the property has an outstanding lien on it (or some other kind of horror story)?
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t-tom nailed it. Also, a foreclosure *usually* knocks out all subordinate liens. There are always exceptions, so due-diligence and title insurance are key.
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If not, what's the advantage versus going through the court? Other than earlier pickin's I suppose...
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For the non-investor buyer looking for a primary residence, there are plenty of advantages to NOT going through the trustee sale/auction. The two that first come to mind are the opportunity to do a full inspection and appraisal on the property, and the ability to finance the purchase (as opposed to cash-only at the auctions).