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Updated almost 9 years ago,

User Stats

3
Posts
0
Votes
Pawel Tokarz
  • Investor
  • New Baltimore, MI
0
Votes |
3
Posts

Purchasing property already in a land contract.

Pawel Tokarz
  • Investor
  • New Baltimore, MI
Posted
First post and looking for some advice here regarding a property I am looking to purchase. Found a multi family property that was listed in my area. The seller, let's call him xyz, who I have been speaking with has sold the property via land contract a few years ago according to public records to let's call him abc. Did a little bit of homework and it turns out there are also a few years of unpaid taxes from the current owner abc. Now I asked seller xyz during our conversation if he was the current owner and he said yes, which throws up a red flag for me. My questions are; 1. Is seller xyz legally able to sell the property if currently in a land contract with abc? 2. What would I need from abc in order to make this purchase? 3. Seller xyz stated he would take care of all outstanding tax issues prior to sale of property, is he legally liable for them, or would this fall onto abc or new owner (myself)? 4. Any suggestions or recommendation on how to proceed here?