Foreclosure 101
Firstly I'm new... So please bare with me--I'm still learning. A couple weeks ago I noticed my neighbors were suddenly gone, but occasionally they'd come back to collect certain items but never over night. I looked a few days ago at a foreclosure list in my area and discovered that the house was listed. A quick check online on the local tax office showed 30.5K in owed taxes and fees. Shortly after my neighbor revealed that they intended to sale. Now my question is after a home is in pre-foreclosure is there any way to determine if the foreclosure is due to a bank or taxes? I want to potentially put it under contract for a wholesale if I can get it for the cost of the taxes. The home is worth 81k (via tax assessor) and 79k zillow estimate. I am primarily interested in wholesaling, but I'm sketchy on estimates does this sound like a good deal?