First House with Agent Problem

[Jerry Barnette]

So I see a foreclosure on Hubzu and make a bid,

My bid didn’t even come close to the reserve and was very shocked they accepted it. I sent the earnest money and a month later today we was supposed to close, a attorney was driving here to meet me and told me to bring a cashier check and I asked him how much and he didn’t know and couldn’t find out, so I called the title company and they actually said they had to reschedule because someone bought the taxes on the house. This confused me because why would they move forward without this information. I pressed for details but they wouldn’t give me any. I asked if they contacted the attorney or agent since we was scheduled to close in a hour and they didn’t. So I called both and told them, which annoyed me because the attorney was driving hours to come here. Neither of them said they had any info. It was getting late so I called the local tax office before they closed to ask them if they knew anything and they said a business bought the 2016 taxes on the property, and they said most likely it was in Nov 17 when it was sold for 2000 and we have 18 months to redeem them. I’m totally clueless how this will play out and tbh it seems like everyone else is as clueless as me. If it was a foreclosure in October 2018 how did someone buy the taxes in 2017? Wouldn’t the bank pay the taxes? And also will the bank redeem the deed or let me redeem the deed and knock it off the price, or will they cancel the deal. This is a homerun deal and I just don’t want to lose it

[Wayne Brooks]

The only problem I can see....you linely used the bank’s title company, they are typically incompetent.  Apparently they are just finding this out, about the taxes, at the last minute....instead of weeks ago when they should have. 

As long as the tax lien Can be redeemed, the title company will simply pay it off (redeem) out of the sales proceeds, as is the bank’s obligation to do so.