Negotiating purchase before owner had to foreclose!

[Philip Murphy]

I have a question about a property that is possibly soon to be foreclosed. The owner has a mortgage on it still and is behind on property taxes. My assumption is that when negotiating the purchase of the property I would have to pay off the mortgage, or would I be able to Pay off the taxes and maybe provide the current owner with some cash and then work with the bank on the mortgage?

How does that process work?

[Chris Seveney]

@Philip Murphy

You would need to have the taxes paid and payoff his mortgage for you to receive clear title and title insurance.

All debts on the property must be satisfied to provide clear title