The Third District Court of Appeal ruled against a Coral Gables-based investor who found out too late that a property it purchased in foreclosure came with more strings than anticipated.

Residential buyer Thriving Investments LLC was a third-party buyer in a judicial foreclosure sale. It paid about $300,000 for the real estate in Miami’s garment district but later learned it did not own the property free and clear and was subject to a pre-existing debt.