As Fernando mentioned, this is a very unique situation. While the property taxes do appear high, it’s not uncommon to see two different liens foreclosing on the same property.
Properties with multiple liens can be under foreclosure simultaneously, sometimes with auctions scheduled days, weeks, or even a few months apart. That’s exactly why it’s critical to run a proper title search and, just as important, understand what you’re doing.
I’ve personally seen investors lose $150,000 or more by purchasing a foreclosure—whether HOA or bank-owned—only to be foreclosed on again later due to a subsequent lien.
If you come across a property with two active foreclosures, make sure the auction dates are spaced far enough apart to allow you time to settle the senior lien, assuming you’ve already factored that potential debt into your numbers.
Hi Pat,
It’s not a common situation, but it can happen in specific circumstances. If you share the county and case number, I’m happy to check and see what’s going on.
Pro since 12/25
If you drop the property address below this in a comment (add comment) I can look it up for you.
Thank you Damon, sorry twice I replied to an email that you or property onion sent to me earlier, I didn't realize you meant for me to comment on this post. I pasted the address below along with the 2 different case numbers. One is for the HOA and the other is for the tax deed. The HOA did already go through and went for $130,000. The tax deed did not happen yet. Thanks for your help in advance.
Also thank you Fernando and Gabriel for your responses!
Thanks Pat
5234 Europa Dr Apt F,
Boynton Beach, FL 33437
3 Beds 2 Baths 1,657 sqft
Case Number
502025CC00454
Case Numb...