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Joseph Burell
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Tax Lien on an REO Property

Joseph Burell
Posted Jun 20 2018, 20:38

So I found a property where the bank foreclosed in May ‘17 for $20k and it's listed on the MLS for $110k. I drove by to look at it today and there was a sign from the parish (this in Louisiana) that said "property will be sold for unpaid taxes on June 6, 2018"

Can someone explain to me what’s going on here? If I paid the lien off, do I get the property? Or do I purchase from the bank and the satisfy the lien at closing? It sounded like the parish was trying to foreclose on it from the bank.

Thanks!

Joseph

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