04-26-2024, 09:55 PM
(04-26-2024, 09:29 PM)HereOnThePrimalEdge Wrote: a fairly new structure on it free of charge.
They would still have to pay back the woman who bought the lot at tax auction, plus interest.
If the heirs didn’t have $1600 to spare for back taxes, could they afford the buyback? Without some pre-negotiated presale resale with a third party? (Someone offers to front the buyback funds, with the agreement that the heirs then sell them the property with an additional little something something fee)
Or could the heirs get a bank loan for the house, as is to pay the buyback?
Good question- tax auction properties can't easily get title insurance, but does that apply if one of the heirs to the original property are taking it back? Someone would have to ask a title company to find out.
Otherwise, no traditional mortgage without title insurance.