PropertyRadar Community

buy 2nd position loan

If I buy the 2nd loan which is the current trustee’s sale, and I also prepare the cash to pay for the 1st loan, what is the possible risk?

Buying at the foreclosure auctions is one of the riskiest, and most rewarding, foreclosure opportunities. Buying at auction typically requires foregoing inspections, title insurance, and financing; and may even require you to evict the prior owner or tenant. But these hurdles lower competition, and therefore present far better discounts to those that can overcome them. We recommend you do as additional research on the property in an effort to reduce the risk.