Lead #2 from my In-law Birddogs

My in-laws went out for a second day yesterday to look for abandoned/vacant properties. When they got home, they said they only found one property that seemed like it may be a good lead. Interestingly enough, this house was one they were going to purchase several years ago themselves for their own house. At that time, the listing agent told them the house had a price tag of $99k, but was worth a lot more since it was a foreclosure that needed a few repairs (<$1k). My in-laws signed the paperwork and were within a week of closing, when it was finally disclosed to them by ANOTHER agent that the property had a $17k+ IRS tax lien attached to it. The deal fell through, and my in-laws - acting on a suggestion by others - files a grievance with the Texas Real Estate Commission against the listing agent for not disclosing this lien beforehand. Well, time passed, and they and us forgot all about the property.

After they brought it to my attention again last night, I sat down and started doing some investigative work. It turns out the $17k+ IRS lien has stayed with the property, and, as such, nobody has touched it. In August of this year, an affadavit was filed by a representative of the IRS discharging the $17k+ lien. They didn't discharge the entire amount, but reduced it significantly. It's now only $2,660. There were some other documents filed back around the time my in-laws were persuing the property that seem confusing. For instance, their was a Trustee Deed to Wells Fargo created for $107k, and then an order filed almost immediately afterward that rescended the Trustee Deed. Intertwined in all that were some affadavits that really didn't seem to say much about anything! Also, my in-laws said a Realtor's sign was in the yard, so I figure it must be listed. However, I didn't see it in my daily automated lists from my agent or on Realtor.com. Strange (unless the sign was just put up yesterday). I sent my agent an email asking her to investigate further for me. Comps has the place around $120k, so it might be workable.