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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Codes/Laws/?? Posted by Eric - CA on August 28, 2001 at 1:50 PM Ward scared me in a response to my post regarding a Marshal's sale indicating that I may assume too much. Sooo.. I want to learn more. Ward stated that the min bid price would be enough to cover the loans outstanding (all of them?). Is this written in the US Code somewhere that all proceeds from the sales will be enough to cover the liens/mortgages/etc. so that the property comes free and clear of any and all liens/claims/etc., or do I need to contact the marshal directly to see exactly how they came up with the minimum bid? I can do a title search on the property, but without knowing which lien the Marshal is selling it subject to, if any, it won't seem to help. Could someone please let me know where to find more information on these Marshal sales and how I ensure that the min bid is all I would be on the hook for? Or describe a scenario where I could screw up and buy a property for the min bid of $125k and end up owing on additional "non wiped out" liens and then say owe $300k more? These seem to be very specialized and therefore if anyone can point me to the appropriate US Government Codes or other source of information that would help. I still have plenty of time to research but we all know that a month often flies by. Thanks Follow Ups: Re: Codes/Laws/?? Ward-CA- 6:13 PM, 08/28/01 (1) That did help, thanks (empty) Eric - CA 6:17 PM, 08/28/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward scared me in a response to my post regarding a Marshal's sale indicating that I may assume too much. Sooo.. I want to learn more. Ward stated that the min bid price would be enough to cover the loans outstanding (all of them?). Is this written in the US Code somewhere that all proceeds from the sales will be enough to cover the liens/mortgages/etc. so that the property comes free and clear of any and all liens/claims/etc., or do I need to contact the marshal directly to see exactly how they came up with the minimum bid? I can do a title search on the property, but without knowing which lien the Marshal is selling it subject to, if any, it won't seem to help. : Could someone please let me know where to find more information on these Marshal sales and how I ensure that the min bid is all I would be on the hook for? Or describe a scenario where I could screw up and buy a property for the min bid of $125k and end up owing on additional "non wiped out" liens and then say owe $300k more? : These seem to be very specialized and therefore if anyone can point me to the appropriate US Government Codes or other source of information that would help. I still have plenty of time to research but we all know that a month often flies by. : Thanks Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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