法庭拍卖屋的问题

According to the rules from the court, it says:

For Tax sales, your bid does not necessarily wipe away other debts on the property.

For mortgate sales, your bid does not necessarily negate other debts on the property.

What's the difference here between "wipe away" and "negate" ?

Now I have checked all the liens and debts on the property, for example, one house C, listed by plaintiff Bank A against defendant home owner B for 100k principle unpaid on House C. The house C maket value is 350k. I found out defendant home owner B borrowed money from 4 banks totally of 400k. where 100k each from bank A, X, Y, and Z. But bank X, Y, and Z are not in the juridictial process.

Then, 1st question, how much I should bid for house C. Should I bid below 50k because another 300k debts on the property still. After the house is transfered to me, do I need to pay bank X, Y and Z? or could I bid below 350k because if I don't need to pay other banks,
If I get the house by winning the auction at $200k, what should I do? do I need to pay X, Y and Z? or do I need to pay some money to them or not at all?

所有跟帖： 

• You need to negotiate with banks X, Y, and Z first -va_landlord- ♂ (273 bytes) () 11/11/2008 postreply 06:47:43

• thanks, u mean negotiate XYZ before bidding on the court? -Sir。Long- ♂ (664 bytes) () 11/11/2008 postreply 07:01:22

• I just read about these and do not have real experience -va_landlord- ♂ (395 bytes) () 11/11/2008 postreply 07:40:00

• thanks, so you suggest not bid over 100k? -Sir。Long- ♂ (160 bytes) () 11/11/2008 postreply 08:53:18

• 你没把问题说清楚。。我来讲两句回复：法庭拍卖屋的问题 -长矛- ♂ (1097 bytes) () 11/11/2008 postreply 07:46:22

• Thanks for many good points -Sir。Long- ♂ (570 bytes) () 11/11/2008 postreply 08:49:52