Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago,

User Stats

39
Posts
4
Votes
Kevin K.
  • Willowbrook, IL
4
Votes |
39
Posts

Back Taxes / Mortgage issues

Kevin K.
  • Willowbrook, IL
Posted

I'm looking to schedule a viewing of a house that appears to be a pretty good deal.  Asking 57,600 on it, 1700 sq ft, in an area that has similar houses going for 240k and up. Since I'm new to this industry, and being the usual cynic, I'm wondering if there is a possibility of any outstanding debt that would have to be paid on a property outside of the asking price.

i.e. is there a potential for backtaxes? does the new homeowner have to assume the responsibilities to those unpaid debts? Secondly, is it a possibility for a previous owner to simply abandon the house with an enormous balance remaining on their loan, which the bank then carries over to the new owner?

Loading replies...