Property being sold short but liens against property indicate property is not short. Realtor says there is an unrecorded lien, but did not say if it was junior or senior to the foreclosing lien. Would this scenario every present a problem for the buyer at the steps?
If a lien is unrecorded that means that noone knows anything about it in public records. If you buy at the courthouse steps and then turn around and get title insurance, the title company won’t know anything about an unrecorded lien also. But, they also make it clear that your insurance is NOT covering unrecorded liens.
If a lien is unrecorded, isn’t it essentially (legally) non-existent for the purchaser? Doesn’t it become the lien holder’s problem because they never recorded it?