Sold Taxes

[theGeneral]

I have a client who has contracted to purchase a home for which the taxes have been sold and foreclosure proceedings had begun. He will be purchasing the home directly from the bank that started the foreclosure. As long as we handle the closing as an escrow close through a title company, does my institution (bank) have anything to consider or worry about as to not receiving clean title? What possibilities for loss do we or my client have as far as the tax sale? We are in the state of Illinois.

 

[HomeGuru]

I have a client who has contracted to purchase a home for which the taxes have been sold and foreclosure proceedings had begun. He will be purchasing the home directly from the bank that started the foreclosure. As long as we handle the closing as an escrow close through a title company, does my institution (bank) have anything to consider or worry about as to not receiving clean title? What possibilities for loss do we or my client have as far as the tax sale? We are in the state of Illinois.

**A: are you a real estate agent, attorney, CPA....?