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Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 34045
Experience:  30 years of real estate practice experience.
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I purchased a home 10 years ago mom in 2006, I was just

Customer Question

I purchased a home 10 years ago for my mom in 2006, I was just 19 at the time and my mom did not keep up the mortgage payments as promised and the house was lost due to foreclosure. I recently received a settlement from the mortgage company and wanted to repurchase the home for my mother so she can finally have a home. My question is: The man who purchased the home after it was foreclosed has been paying taxes on the home, but my name is ***** ***** the property owner information since 2008. The house was purchased from the mortgage company in 2007, so why is my name being shown? How can I purchase this home back from this guy? Im so confused. Thanks in advance for your professional advice.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Loren replied 1 year ago.
Good evening I am Loren, a licensed attorney, and I look forward to assisting you.Is the current owner willing to sell to you?
Customer: replied 1 year ago.
Yes he is willing to sell to me. The state for all of this is South Carolina, if the helps at all
Expert:  Loren replied 1 year ago.
Thank you for the additional information.If he is willing to sell to you then you will need to put the property under contract. Then you can either pay cash for the property or secure financing.It is no different than any other purchase. The fact that the records still list you as taxpayer is not really an issue. The deed is all that matters.
Customer: replied 1 year ago.
He wants to sell the home for far more than what it is actually worth is that ok too?
Expert:  Loren replied 1 year ago.
Thank you for following up. It is his property and he can sell it for what he wants or not sell it. It is a negotiation, but you can not force him to sell. See if he will be flexible.I realize this is probably not the answer you were hoping to receive. Also, please remember that this is not a moral judgement on my part. As a professional, however, I am sometimes placed in the position of having to deliver news which is not favorable to a customer's legal position, but accurately reflects their position under the law. I hate it, but it happens and I only ask that you not penalize me with a bad or poor rating for having to deliver less than favorable news.
Expert:  Loren replied 1 year ago.
Are you still online with me?