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Answered
2 different auctions on same property

I am interested in buying a foreclosure that has an HOA judgement for approx $20,000. I had a title search done and see there's approx $75,000 overall in total liens which include unpaid taxes of about $18,000. I also see that the same property has a tax deed auction in 2 weeks for $130,000 which is much higher than the taxes that are owed. Can someone explain why the tax deed auction would be so much more than the amount that's owed?
Thanks Pat

Posted 4 days ago
  
  
  
  

If you drop the property address below this in a comment (add comment) I can look it up for you.

Damon Simon   3 days ago Report
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Answers 2


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.

Posted 3 days ago
  
  
Fernando Alonso
368 × 3
Pro Member

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.

Posted 2 days ago
  
  
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Miami Dade County Foreclosure Schedule

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