FrontDoor.com

It's important to research liens before you buy a property, whether the property is a foreclosure or not, because you as the buyer may be responsible for paying off those liens.

A lien is a legal claim on a property by a lender or other entity that is owed money by the owner of the property. The priority of a lien is usually determined by the date it was placed on the property.

A first mortgage will usually have the first priority, and all other liens will be considered junior liens. In most states, the public auction clears out any junior liens, but there are exceptions such as tax liens, which typically will continue to be in effect after the auction.

Here are some tips for researching liens on a property:

• Check county records.
• Contact the local property assessor (either through county or city government) and ask who is listed as the owner of the property. Many of these agencies also have Web sites where you can access tax records.
• Subscribe to an online listing service like RealtyTrac, which offers resources and tools.
• Work with a local real estate agent who specializes in foreclosures.
• Hire a real estate attorney or title company.

GO TO: Part 1: Getting Started

GO TO: Part 2: Pre-Foreclosures

GO TO: Part 3: Foreclosure Auctions

GO TO: Part 4: Bank-Owned or REO Homes

GO TO: Foreclosure Guide

More on FrontDoor:

• Search Homes for Sale
• First-Time Homebuyer's Guide
• Experienced Homebuyer's Guide
• Home Finance Guide
• Home Seller's Guide
• Tools and Calculators