Tax Liens-How does it work?

[Shyla Hyde]

Hi. A mail deliverer told me that one of my neighbors expressed that he's about to lose his home because he's behind on taxes. I checked the tax records and found the property listed under a land trust as the owner. I checked Acris and found the property was sold at a tax sale. (It's been a while...since 2013).

Since the owner is still living in the home, can I still get it under contract and assign it to a cash buyer? If so, how would it work being that there's back taxes (however, the land trust has been paying the taxes since it's up to date on the tax site) and showing it being ownee by the land trust). I need clarification as to how/why the owner still lives in the home and haven't lost it yet. Since he's still there, can I try to get it under contract anf assign his home legally. It's in prime North Brooklyn and worth over $1.4 M. Any advice will help. Thanks.