Property Vs Gov.
I am trying to purchase a property from a person that has gotten in trouble with the law. The government told them that they have to sell for a certain price, but it's not worth that much. They want them to sell for 200k or more because of the expensive furniture inside. Without the furniture the house appriased at 165k. The owner owes 148k and they want just to sell at whatever possible. I made an offer of 160k, but the government told them that they can't not sell it for that price. Is this legal or not. If the property sells for 160k then the government gets the difference and not the owner. Should I continue with my offer or not. Or just let it go to forclosure, because they are not paying the mortgage anymore.
leave your offer in place, go contact the 1st mortgage holder and offer to buy their note at a discount and foreclose for them