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Updated over 3 years ago on . Most recent reply

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Fillip Nelson
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I want to buy my neighbors Condo!

Fillip Nelson
Posted

My neighbor is $5,500 in back taxes on her Condo

She is $40,000 behind on condo fees.

She paid 200k for it in 2008, and now they are selling for 182k

The Association has filed a lien on the property 

 What is the best and creative way to obtain the property? 

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Theresa Harris
#3 Managing Your Property Contributor
11,242
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Theresa Harris
#3 Managing Your Property Contributor
Replied
Originally posted by @Fillip Nelson:

I'm wondering how do I convince her.

Every time I run the numbers I wonder what's in it for her.

$185k Value

$155,000 mortgage

$43,000 condo lein

$5,500 in taxes

-$68,000

I'm wondering what deal I can work out.

The bank and condo association don't care what is in it for her.  She owes them money and isn't paying it, they just want their money back.

  • Theresa Harris
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