Can you guys give me suggestions on how to proceed or should I just go on to the next buyer.

Either way, you complete a purchase and sales agreement (PSA), make sure to include n inspection contingency, use your contingency time period to have the property inspected, complete your due diligence on the purchase, and if all checks out clear, proceed with closing.6.

If you're looking to buy a place to live, proceed with buying a place you like and that you can afford.

:the part they don't tell you is that 401k loan you take out is due in 5 years.The term can be longer if you use the proceeds to buy a home.

I'm not familiar with Cali but if the s/l was 4 years for contracts and unsecued notes I'd put my money betting on 4 years.I'd weigh the option of proceeding regardless of the s/l as the borrower would need to bring that as a defense, I'd bet they don't if no payment was ever made.Another issue, if a payment was never made it sounds like mortgage fraud that is another category getting to criminal charges, the s/l will be longer, 7, 10, 12 years, not sure, it depends too if the original was an insured lending institution or a private individual.It also depends if the note was generated from an installment sale or was made as a cash loan, purchase or refi.It will also depend on whois in the property and if the property has been sold over the past 16 years, we just had an example of a subject 2 deal going sour with subsequent sales and that can limit your security if the note holder fails to act in a timely manner.Frankly, I wouldn't fool with this one, 16 years old, foreclosure notice gievn and never followed through, that's pretty much allowing the note to go stale and abandoning the claim of the amounts owed.If the maker of the note is still in the property and you can contact them by phone or in person, you might be able to negoiate something holding the fraud claim over thier head, forgive some of it and modify it back to life, but they need to agree and you can certainly bluff your way along to a point.

Any thoughts on the matter are greatly appreciated.Again, I KNOW it was stupid to give out the address under any circumstances, I'm just looking for opinions on how to proceed.

Or hire a lawyer and proceed to a Quiet-Title action.Also keep in mind that any outstanding liens will still be attached to the title even when it is deeded over to you by the county.

But in CA, it seems that you have to pick which one to proceed first before you start.

I will take this information to heart and proceed accordingly.

Your proceeds are about $150k after transaction costs.