Contract w/delinquent property taxes almost equal to homes value
I don't often post on here because it seems most questions have been asked before and I can find the answers without creating a monotonous post. However, today I am stumped and need your help. I found a vacant property in Greenville, TX and the owner now lives in Florida. He had no idea the house was still in his name and assumed it was foreclosed on. Come to find out it appears the mortgage company that had the lien went out of business and somehow the electronic mortgage system issued a release of lien on the property, making it free and clear of any mortgage debt. The owner said he would be happy to sell me the property for whatever is owed on the property which comes out to about $15,000 in delinquent property taxes and code enforcement liens. I thought I had won the lottery until I found out that's about what the property is worth. I was planning on wholesaling it, but I don't stand to make enough money to make it worth my time unless I can somehow negotiate the taxes down. To make matters worse I'm also on a time crunch to make something happen because a demolition order was created by the city today. I have thirty days. Does anyone have any ideas on how to make this turd shine even a little? I feel like I would be doing the city a favor and saving them some money by taking this eye sore off their hands and preventing them from having to spend any money on the property that they will never see.
I would really like to make something happen even if I only make a few bucks. I think the experience of working a deal like this would be worth its gold merely for the education of the process. Any ideas would be greatly appreciated, even if it's telling me to walk away... Thank you!