Municipal Tax Sale
Hello BiggerPockets members,
I recently received an email from my attorney regarding a real estate deal. I am curious to learn more about the situation and see if there are any possible solutions. I am wondering if anyone else would continue with the deal knowing this information. Below is a summary of the email I received:
"Hello Mr. ---,
Upon review, I have discovered that the seller obtained title to the property through a municipal tax sale less than two years ago. To ensure that the title is insurable, the seller will need to take necessary actions, at their own expense, to deliver insurable title. This may involve initiating a foreclosure action."
I appreciate any insights or advice if / or on how to proceed.
Thank you.