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Updated over 1 year ago, 05/05/2023
Listing agent advised us to wait for house to going into foreclosure to buy...
I'm not sure if this is the correct category to post to - please let me know if I need to post elsewhere.
I found a house that I very much wish to purchase. However, the seller is an elderly woman with significant health issues who lives in another state and is non-responsive to her listing agent. I made several offers on the property, all going unanswered. The listing agent communicated she would take the listing off MLS if no response to communications was received, and the house currently displays as off market in any public real estate listings I can access. The listing agent and my agent both suggested I wait for the house to go into foreclosure, as there are unpaid property taxes. Apparently the seller at some point indicated to her agent that she had no intention to pay those property taxes unless the house sold (and she would then pay from sale proceeds). I understand there is an existing mortgage on the property as well, and have done research to find the details/document copies from the county recorder office.
For Fairfield Co, SC, it seems that a tax delinquent sale would be the next step, if the property taxes remain unpaid. Presumably, the property would be offered for a tax sale between August 31st and December 31st of this year (which also has a 12 month right of redemption for the current owner, so even if I did win the property I could not take possession for a year). I am seeking advise on any alternatives to secure this property sooner rather than later. The property has been vacant for over two years and will continue to deteriorate as time passes, which increases my costs to rehab.
Please note that I do not wish to gain from this seller's situation nor take advantage in any way. I am happy to make an offer of the last listing price.
Options I have considered are as follows, and I would appreciate any feedback (even telling me I am foolish, ill-informed, etc.) and/or new suggestions:
- Sending a kind card with a plea for the seller to consider selling to me yielded no responses.
- Paying the delinquent property taxes, which I believe would give me a tax lien on the property. Pros/Cons on this option?
- Contacting the mortgage company to see who owns the mortgage note and inquiring if they would sell the note to me (not sure this is even possible due to mortgage regulations, etc.).
What other options, if any, can I explore?
Thank you in advance for any feedback.