Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Tax Liens & Mortgage Notes
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

9
Posts
0
Votes
Shawn Abadie
  • Investor
  • Phoenix, AZ
0
Votes |
9
Posts

Why is a party foreclosing a tax lien now offering to buy?

Shawn Abadie
  • Investor
  • Phoenix, AZ
Posted

Just got a notice today from a business partner of the lein holder, who filed intent to foreclose about 6 weeks back.  The property is vacant land in Yavapai County, fairly difficult to access, not much development / improvement going on nearby.  It's been held by a corporation for about 11 years, and they stopped paying the taxes on it about 4 years ago.  

The letter received states that "instead of obtaining a judgement and receiving the property that way, it might be better for all parties to mediate a purchase", where the back taxes and everything else is paid by buyer and seller received a nominal sum ($2500).

Question is:  Why would someone offer this if they are already on their way to obtaining the property through the lien foreclosure process?

Thanks.

Most Popular Reply

User Stats

12,487
Posts
15,231
Votes
John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
15,231
Votes |
12,487
Posts
John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied

a Tax deed would have a cloud on the title and would then need a quiet title action to remove cloud. I would try and get $4000.00 because a QT would cost about this much and take 6 months or longer.

  • John Underwood
  • Loading replies...