Buying a Foreclosure

1 Reply

Long story short-

My partner and I were in talks with a homeowner who owned 15k in back taxes. We pushed to buy the property but he wanted to wait. 1 month goes by and he calls saying he received the letter stating his house was foreclosed on. Our lawyer (who has some connections with the city lawyer) told us to write up a P&S with the (ex) homeowner with the date showing it was signed the day before he received the letter. We did it, city lawyer agreed to stop the Foteclosure, and we closed on the house. Of course there was more details to that story but it worked!

So now my question and problem- we are going through the same problem **in a different town :/ we've been in talks with a homeowner who owes back taxes. His house was foreclosed on and now the town is saying there's nothing we can do but wait. The town is terrible and way behind with foreclosed properties and it's now been since September 2014 and they still have not done anything with the house. The town has admitted they won't do anything with the house until late 2015 or early 2016. Are there any options we can explore to get this property in our hands??? 

Thanks BP

We don't know what you mean by "the town foreclosed on". Did it go to a tax deed auction? To a third party? How does it work there?  Learn the statutes, and how the process works.  I doubt the town takes title, and then it's simply in limbo and can't be paid off?