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Updated almost 10 years ago, 01/16/2015

User Stats

46
Posts
15
Votes
Brad Gibson
  • Investor
  • Surprise, AZ
15
Votes |
46
Posts

Strange Foreclosure situation!?

Brad Gibson
  • Investor
  • Surprise, AZ
Posted

Ok let me try to explain this. There were 3 Triplex's in a row that I thought went into foreclosure about a 2 years ago. They were split up individually and a bank bought 2 of them which ended up on Hubzu.com. I ended up buying the first one, a lady bought the 2nd one aprox. 6 months later and the 3rd never seemed to hit the market so I dug a little deeper. The same guy at one time owned all three but the 3rd one was not bought by the bank that purchased the first two. I looked it up and it appears that the 3rd triplex is still in his name with about 5k in backed taxes. 

I guess im confused why the county didn't auction it off at a courthouse auction and are letting the taxes build up or why the bank that bought the first 2 didn't buy the third. I am interested in the property and curious if there is any input on the best way to go about buying this triplex. Should i call the owner himself and work with him and his bank directly? Possibly work out a deal with them and offer to pay backed taxes? Any info would be highly appreciated.

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