62034 : Questions & Answers

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Mom_of_too_m…, Home Buyer in Glen Carbon, IL
Mom_of_too_many asked:
When someone purchases a tax lien, that lien will still need to be paid before we can close on the house? It should still come up on a title search? The seller's agent is making it sound like the lien will no longer exist. That isn't the case, someone else is just assuming the tax debt and they will need to be paid with i...
0 votes Share Flag Wed Mar 17, 2010 Home Buying in Glen Carbon
Nick Dailey, Real Estate Pro in Florence, KY
Nick Dailey answered:
I'm currently under contract to purchase a short sale. The 1st bank has approved the offer and now the 2nd bank is reviewing the offer. We also
The purchaser/investor of the tax lien will pay a portion of the outstanding balance, knowing when the property eventually tranfers, they will make money on the difference b/tw what the ... more
0 votes Share Flag Wed Mar 17, 2010 Home Buying in Glen Carbon
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
Can you buy a house contract for deed when the owner still has a mortage on the house. If so who would have to carry the insurance?
Sure you can. As others will point out, it'll violate the lender's "due on sale" clause, but that isn't a deal-killer.

The owner (the seller) would continue ... more
0 votes Share Flag Sun Nov 1, 2009 Home Buying in Glen Carbon
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