L
LJB37
Guest
Hello
We have put an accepted offer in on a house that is for sale by owner. There is a judgement from the county for 5 years of property taxes owing. Right now the property is in the redemption period of foreclosure, which the date for final foreclosure will be 9/02 through the county. When the title report came back, it showed about 6 different judgements from different creditors against the property and a lien for the 2nd carried by a private party through escrow. Right now we are about $5,000 short of paying off the creditors. The question is can the owners decide whether or not they will come up with the money or back out and let the house go in foreclosure and/or file bankruptcy? What is our right since they signed a legal document, Real Estate Sales Agreement?
Thanks,
The Bryants
We have put an accepted offer in on a house that is for sale by owner. There is a judgement from the county for 5 years of property taxes owing. Right now the property is in the redemption period of foreclosure, which the date for final foreclosure will be 9/02 through the county. When the title report came back, it showed about 6 different judgements from different creditors against the property and a lien for the 2nd carried by a private party through escrow. Right now we are about $5,000 short of paying off the creditors. The question is can the owners decide whether or not they will come up with the money or back out and let the house go in foreclosure and/or file bankruptcy? What is our right since they signed a legal document, Real Estate Sales Agreement?
Thanks,
The Bryants