$550K house with $70K tax lien
I am bidding on a "bank approved short sale" through auction.com. I've been offering $400K for a house that is at least worth $550K retai... if it weren't occupied by a cantankerous personality, threatened with foreclosure and burdened with a $70K property tax lien.
I've been putting in my offers through auction.com and a local realtor. auction.com send them through to the bank, which has accepted my offer a couple times. however, the sale has to be approved by the seller. since he has to pay off the $70K property tax lien, he doesn't approve the sale.
My realtor says that the property owner feels it would be better if the bank forecloses because that would wipe out the property lien.
I see that the owner has the house for sale by owner at what i think is a high price ($600K).
I am curious how the bigger pockets community sees this situation resolving itself and is there anything I can do.
>KNC<