QUOTE(z21j @ Feb 10 2019, 12:17 AM)
Lets say if previous owner owed property tax, gated and guarded maintenance fees etc... who is responsible for the outstanding balance?
The previous owner, the mortgagor or the winner of auction prop?
I heard various versions just to check out from sifus here.
No correct answer. Refer to the proclamation of sales. All depending on the bank. But general answer: The previous owner, the mortgagor or the winner of auction prop?
I heard various versions just to check out from sifus here.
1. Most banks will cover fully those outstanding.
2. Some banks will cover partial.
3. Some banks will not cover.
4. Also got case when the reserve price drop to too low, the bank update the POS from fully cover to no cover those outstanding.