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 7 years ago, 07/07/2017

User Stats

19
Posts
6
Votes
Anthony Bonaiuto
  • Investor
  • Cleveland, OH
6
Votes |
19
Posts

Vacant, $49k in back taxes owed.. Subject-to?

Anthony Bonaiuto
  • Investor
  • Cleveland, OH
Posted
Hello fellow BP members! My name is Anthony, I'm new around here. I've enjoyed reading a lot of the articles and the podcasts are amazing! I currently own a Triplex property in Cleveland, and I'm looking for another property to purchase. There is a house on a nice street that has been vacant for a few years, so I looked it up and found out the owners owe $49k in back property taxes. I'm not sure if they've kept up with the mortgage, because it's not in pre-foreclosure as far as I can tell. Seems like it has potential to be a subject-to deal.. I've never done a subject-to, however I'm familiar with the process. Has anybody purchased a property with that much owed in taxes? I'm sure the county will negotiate in the amount owed, as something is always better than nothing. Who would be responsible for paying the back taxes owed? Basically I'm not exactly sure where to start on this, or if its even a feasible deal for a new investor like myself. If it makes sense financially then most likely I'll send a letter to the owners and see if they're interested in being relieved of their burden. If I end up getting the property I'd like to hold and lease it, or potentially do a lease option.. I'll be sure to do my homework and have a through title search in case there are other liens on it as well. This would be my second property so any and all advice is greatly appreciated!! Thanks in advance! Anthony

Loading replies...