What happens when a bank forecloses and puts up a property for auction that has the owner listed as the HOA?? Then I buy this property at the auction - are there going to be title issues?? The foreclosure auction was instigated by the bank and was a loan taken out by the person who bought the condo originally.? The HOA took over the property 2 months prior to the NTS and the HOA evicted the condo owner (loan holder). I am concerned about title, gaining possession from the HOA, and if I would be responsible for the back HOA dues that are owed.? I was thinking that I wouldn’t be since the primary loan would be in first position and the HOA fees would be a lien under that.? I know that buying property that is being offered by the HOA up for auction is a bad deal - but this is a different scenario.
And I have also been told that there is a pending short sale on the property and that the HOA is the one selling the property - not sure if that has any bearing on this whole deal or not.