Could the tax records be outdated? 

Basically, an assessment is nothing more than what a municipality decides a property is worth in order to tax it based upon that value.Additionally, although cities and towns are mandated to perform assessments regularly (in CT they're supposed to update assessments every 5 years), that assessment can still be quite old and outdated.

Or should there by a buy out date set in the beginning for 5, 10 years down the road?

He said address and Info on contract was false/out dated.  

Hello BP Nation, I invested in getting REO information from a website only to find out that the information provided is outdated ( won't mention site name here, but message me if you want to know). 

I have a knack for turning an ugly or outdated home into a brand new looking home and in doing so, I create more value than the costs associated with that process, therefore, I have a positive net result and excellent COC doing this process.

Their premise was the rules were created by the developer back in 2004 and is sorely outdated in comparison to what is available today.However, I have no other comparison so I'm here asking you guys.

Hey Max,Generally speaking, it is a case-by-case basis.The 70% rule is over-generalized and out dated.

making another offer just before move out date is a great strategy!

The house is actually in good shape, it is just outdated.