bank owned auctons

**siniscta** · 09-19-2008, 09:23 PM

Hi, I live in Michigan and recently thier has been a ton of bank owned properties sold by these auction companies. Ex. Williams and Williams. These are not sherriff or county courthouse auctions. When buying a banked owned home at an auction do I have to worry about back taxes and leins. If so where would I have to go to research and find this stuff out. I'm willing to do all my homework, just need to know what to do

**bg233** · 09-22-2008, 12:22 PM

I think due diligence is your best bet. I would say you have to worry about everything with these types of purchases. It makes sense to do your homework thoroughly, even when you think you don't have to

**siniscta** · 09-23-2008, 04:31 PM

Thanks for your reply. I appreciate any help I can get. I agree, I called the auction house any they said any bank liens are cleared at closing. I'm still skeptical however and still would want to do a search on the property. But how do I go about this? I do not have the money to have someone else do it on all the properties in which I'm interested nor do I now which kind of things to look out for. Is there any literature, classes, or manuals I can go to for info.? Thanks Tim

**ericmedem** · 10-13-2008, 01:15 PM

Do a title search or at the very least search the tax records in your area to be sure that taxes are paid up. You can also check at the registrar of deeds to see what liens the property has against it.