I am a REALTOR with the SFR certification, which is short sale foreclosure. I am not a member of RealtyTrac so I defer to those that are. Buyer beware! As a word of caution, find a REALTOR who has the SFR or CDPE (certified distressed property expert) and is a member of Realty Trac. Any agent can be a member of Realty Trac if they just pay the fee.
Either the lender or the taxing entity can foreclose on a home and then there is a redemption period. I don't deal with tax sales so you'd have to check with a real estate attorney regarding that matter. I live by the rule that if it sounds too good to be true than it probably is; in this case it makes no sense why to list so low as it doesn't even meet the BPO (Broker Price Opinion) guidelines of 88% or higher so it is probably a tax sale. You could go through the hassle of buying then end up having to return the property to the owner after they pay their taxes during the redemption period. Good luck! If you decide to run with it, then do us all a favor and post your results! Everyone would benefit.
Cathy Bureau, MBA, REALTOR, Green, SFR
GREEN Home Realty
Realtytrac is a subscription site, so you'd need to pay in order to get the details that they have. The information may or may not be correct or updated.
That could potentially be the delinquent tax owed, which can be caught up at the auction. Or even after you buy it, the owner has a redemption period to pay off the new buyer and and get back into the property.