Want to buy neighbor's foreclosure
The person who lives next door to me was listed in the paper this week to be in foreclosure proceedings. By Nov 2018 .
Mortgage was for 64000 current owners 24000.
Property would have a value of a minimum of 190 though I know he is a hoarder and the interior will need a lot of work and some work on exterior. I checked and they're No tax liens.
Our neighborhood is doing very well with home sales.
We have a decent relationship with him. So I think we could approach him. I would like to make him an offer to pay off his mortgage debt and hopefully limit the impact on his credit. Then we'd obtain the property. Move him out in 6 months.
Could he still sell the house to me at this stage of the process?