Question · Wholesaling Real Estate

Question

I have two questions: one about a pre-foreclosure property and one about a tax-delinquent property.

1️⃣ Pre-Foreclosure

In these properties, who pays the remaining mortgage — the buyer or the seller? Is it paid from the sale price at closing? Please explain pre-foreclosure to me a little, and is this always mentioned in the contract?

2️⃣ Tax-Delinquent

In these properties, who pays the past property taxes — the buyer or the seller at closing? If the buyer pays, is it deducted from the property price or paid separately? Please clarify this as well.

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