We were under contract to purchase a distressed property which we have plans to renovate and rent out. The seller asked for one 2 week extension on the timing to clear a lien, which expired 3/15. On 3/25, the seller provided our realtor with a list from the title insurance company of requirements, which include:
5. Cause to be recorded an Order expunging the Order and Judgement of Foreclosure recorder in Liber XXX, Page XXX, XXX County Records, as to the subject property"
Line items 6-9 say the same thing, just different numbers. I am assuming that here they have to prove to the county that they paid the delinquent taxes for whatever year that record calls out and get the record to reflect that.
13. Record a proper Certificate of Redemption from judgement of forfeiture or real property for non-payment of property tax for the year(s) 2016, as recorded at Liber XXX, Page XXX.
14. Record a Satisfaction or Release of that certain judgement
Plaintiff: Midland Funding LLC
Principal Amount: $XXXXX
15. Payment of taxes for 2016
The seller hasn't paid taxes on time since at least 1997, so I am guessing items 5-9 are just that they have to get the record to say they did eventually pay the taxes. I don't understand why they are listing 2016's taxes only, if they hadn't paid 2017 and 2018 I would think those would be listed too, and if they had wouldn't those funds be applied to the older tax bill?
The seller does not seem to be motivated to get the title clear so we can proceed. Our realtor says we should just wait, and when they eventually get the work done we will renegotiate the price. Is there anything we can do but wait at this point?