Has anyone ever bought a park at an auction? I see a park that on the surface looks like it could be a good deal but will need some serious work to turn it around and make it profitable. My question is that it appears that the previous owners currently own around $32K in back taxes (I assume this is the reason for the auction), water and sewer bills etc, I assume that these liabilities would be passed onto the new owner. I have emailed the auction broker but I haven’t heard anything back yet and I really want to know what I may be getting into before I even really consider going further with this.
Thanks,