No way is that a good deal. If someone needs to buy a home. Wait. Not just for potential 90 percent or more discount from here, even if you buy the house WITH CASH, you may not OWN it. (because it might not have been legally able to be sold)
It's all about whether or not it was foreclosed and in MERS. Odds are greater than not that it was. Anybody buying a house now has a better than not chance of getting jobbed, and may have to move if the original owners want it back.
This might happen to tens of millions of homes, and the majority of commercial loans. (not to discuss, but to prevent others from making a BIG $$$$ and HASSLE mistake).
Unless it is a CLEAN title, that was paid in CASH from DAY 1, and never foreclosed....or the loan was paid off pre 1990 (and perhaps a couple of years later, but I wouldn't risk even 1994), I wouldn't touch ANY house. Because if you live in one of those now, it might not legally be yours, and WILL be taken away, IF the previous person puts a claim in. Don't be a fool and their money...easily parted. (and sure this guy might be selling, but what about the guy before that? Lots of houses get bought and sold multiple times...it only needs to happen once in the chain for this to possibly happen). People need to be aware.
But yeah, that has to be the best delivery job. I had a friend who did pizzas in fountain hills about a decade ago. Some good, many bad tips. (in other words...that chandler neighborhood is probably 2-3x better than there). Fountain Hills = tightwads.
