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Educate me a little on a Short Sale
Neighbor next to me is moving out, he's retiring in a month and moving to a senior home. The house is 62 years old and he's been there for the majority that.
I found the house online today and he's in short sale. I checked the county property records on the place and he owes back property taxes to 2008, around $4,500.
Is it possible the house is in short sale in part due to the back taxes being owed, or is it strictly a function of more is owed on the house than its worth? He's been there like 40 years, tough to believe its not payed off.
A bit worried as the list price is really low, $150k, probably gonna become a rental or go ghetto on me.
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'84 Carrera Coupe
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