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Not sure. I believe the former distressed owner/corp is stuck with the accumulating taxes until the bank resells, then the title is washed through foreclosure proceedings. I could be entirely wrong.
An advertised FSBO might be considered 'arms-length', but it could get very dicey when brought to court.
Also, an independant appraisal or two should be done to prove that 570 valid.
This is all speculative and just thoughts.
There is a lot missing here, and it sounds like this John guy may have still have some legal and moral claim in the situation. That is all.
Caveate/CYA/etc.
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