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Updated almost 7 years ago,
Motivated Owner with Back Property Taxes/Lien
Hello BPers.
Whilst walking the dog I started talking to a friendly old guy. He's the original owner of a 1972 SFR house in San Jose, never remodeled or finished on the interior. I haven't seen the inside but the outside is weathered, weeds growing, neighbors say inside is in bad shape. It's the typical scenario of an older person who lives alone and can't take care of the house or bills.
He is already naming a price he'd like, knowing what a similar house to his sold for. But on guessing, its looks like it might need more than whats asking to realistically bring it up to code and liveable. I'll have to see the inside if he'll let me.
On public records, he owes $7k in back taxes, not having paid since 2015.
How do I go about this? Get an RE attorney and draw up a contract? The owner's memory is poor so he'd need to have a family member or spokesperson for himself. Nearest family is about 5hr drive away.
Do I ask a title company for a preliminary report? I dont' want to invest time/money if it's not worth it.
If I were to obtain a contract I could wholesale or fix and flip.