why would someone want to purchase a home incumberd with a mortgage, tax liens, that exceed its worth?
535210
Perhaps because they think there is still some upside to be had.
362282
First you have to put your home back on the market and sell it again to someone else.  If the house sells for a lower purchase price than the previous deal then you can demand that the difference be deducted from the deposit provided by the first buyers and any remaining balance be returned to them.  If the house sells for more than the previous deal then you have to instruct that the entire deposit be returned to the first buyers, since you had no damages.\n\nThe foregoing assumes that:  (1) your original contract with the first buyers did not address the issue of a default by the buyers; and (2) that you did not default under the original contract.  If the original contract addressed the possibility of a default by the buyers then the contract will be controlling.  If you defaulted (for example, refusal to make agreed-upon repairs) then this whole mess is going to court and anything can happen.
954654
If there is a lien on the property you are stuck w it- D
742020
I think the answer is no, because your tax relief on the outstanding mortgage is greater than the interest paid.
834261
A contract -for-deed is similar to renting, so your mother-in-law can ask for whatever payments she wants. There is no legal basis for her to say the payments will increase. Perhaps she is including the cost of taxes & insurance in the new payment, or perhaps she is charging a high interest rate.\n\nThe only advantage to you, in a contract-for-deed, is that after 12 months of on-time payments (verified by canceled checks) you can refinance the loan with a conventional mortgage.\n\nRick\nwww.fairwaymortgagelending.com
481774
WARNING: many of the "get rich quick in Real Estate" deals (scams) are centered around buying tax forfeited properties. The taxing authority (the county) used to sell these properties for the amount of taxes owed, but many counties have begun selling them either at "fair market value" or by auction to the highest bidder. Be careful, and be sure to get an appraisal and inspection before purchasing
1139041
It could if you don't get enough money from the proposed sale to cover all of the mortgages....or if the mortgage company doesn't agree.  It might be a good idea to consult a real estate attorney to get specific information for your situation.
98643
I think it is a tax sale where it is still subject to all liens and mortgages. Where they don't get wiped clean.\n\nhere is a link to a notice of one in pensylvania\nhttp://www.co.monroe.pa.us/monroe/cwp/view.asp?a=1516&q=605391
937728
There are real estate companies that buy homes in any condition. Look in the phone book and find one.
272422
There are lawyers who specialize in real estate law.  It might cost more to ask this question of one of them, but when you consider how much a house is worth, and how much a repair such as this might cost, it may be worth the money.
293662
There are a number of possible reasons: they owe more than the house is likely to bring at a firesale; they can't afford to rent a place (no first, last and security) and can't afford to move. Their credit is shot, so they can't borrow for these expenses. They have had it on the market, but no one will pay what is needed. The house needs so much work that no one will touch it. Who will pay full price for a house when they just wait for the auction and get it for a third of what it's worth?
488301
Why would anybody lend you an enormous sum like that if you've shown you can't be relied upon to pay it back?  I'm not dissing you, I'm asking you to think about it from a lender's point of view.
1052219
The tax valuation of a home, the value that the state gives you in order to decide how much you will pay in property taxes, often is inaccurate.  This value may be well below the real value of the home, so you shouldn't pay much attention to it.\n\nThe only problem would be if the state were valuing your property at more than it's really worth and taxing you based on that.
408179
They are looking to see if you have too much outstanding debt.  If you do, you could be more likely to embezzle than someone who is financially sound.  They are also looking to see if you are going to be costly to them in that you might have your wages garnished or have court appointments to attend.
177154
If they are selling a house to someone at below market cost or giving a below market mortgage, then it seems fair that they can set selling guidelines so that someone can't take advantage of the low purchase price.
79643
Im A Broker And Let me just say this.\nBUY BUY BUY  The reason is If you buy then its yours and the Banks When you lease You take Some risk with this venture I have seen people lease houses with the choice to buy and 5 yrs down the line the owner files chapter7 and you lose the house and your money then you try to sue the person who has no money left. Its just better to buy Taxes and everything else it will work in your favor. Dont be scared to Buy. If you buy the right house And keep it up and maybe do some work to it in 5yrs you can move and make money on the house. I know many people who buy a house that needs work They get it for 250grand do work to it and in 5 yrs they get 600thousand for it. its a investment and its a good one. But never buy the first one you see. look and compare. Check the area and The market for that area.\nGoodluck
1050365
you pay a high price for a house not worth that much,  you pay a down payment instead of a deposit.\n\nAnd the perosn who sold it trys to find any reason to repo it, since he can sell it all over again