Can I sell items left on a foreclosed property that I purchased?

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Can I sell items left on a foreclosed property that I purchased?

About 2 months ago I purchased a condo that included a boat slip-lake community. It was a foreclosure. The condo was completely furnished and the boat slip had a boat lift and a storage locker (boat items). Part of the transaction was paying the HOA all back assessments and payments for the slip (about $8,000). We sold the lift two weeks ago as it did not work for our boat. We got a call today from someone who claims he owned the lift and had rented the slip for 9 years. We had no idea and the purchase transaction was “as is'”. He probably rented from previous owners he wants money.

Asked on May 28, 2011 under Real Estate Law, Colorado

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Generally speaking when you buy a foreclosure the lender makes no representations as to the property and all that it contains.  I think that you need to take all the documents regarding the sale to an attorney in your area as soon as you possibly can.  I am assuming that you did not use a lawyer in the first place when you purchased the condo.  But I think that it would be very foolish of you not to speak with one now.  Do not freak out yet as to the clip and the guy who claims he rented it. He still needs to prove that he owned the items you sold and that he rented the slip as he says.  But I would also not go out and buy a car with the eight grand just yet either.  Get help.  Good luck.


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