Investor · Phoenix, AZ · Member since 2010 · 9 posts · 0 votes
Just got a notice today from a business partner of the lein holder, who filed intent to foreclose about 6 weeks back. The property is vacant land in Yavapai County, fairly difficult to access, not much development / improvement going on nearby. It's been held by a corporation for about 11 years, and they stopped paying the taxes on it about 4 years ago.
The letter received states that "instead of obtaining a judgement and receiving the property that way, it might be better for all parties to mediate a purchase", where the back taxes and everything else is paid by buyer and seller received a nominal sum ($2500).
Question is: Why would someone offer this if they are already on their way to obtaining the property through the lien foreclosure process?
a Tax deed would have a cloud on the title and would then need a quiet title action to remove cloud. I would try and get $4000.00 because a QT would cost about this much and take 6 months or longer.
a Tax deed would have a cloud on the title and would then need a quiet title action to remove cloud. I would try and get $4000.00 because a QT would cost about this much and take 6 months or longer.