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 6 years ago,

User Stats

12
Posts
2
Votes
Dylan D.
  • Central , OH
2
Votes |
12
Posts

What are my options

Dylan D.
  • Central , OH
Posted
I have located a vacant property and reached out to the owner which inherited the property. The house is in very bad shape and would be a complete gut but in a decent nerighborhood. The owner told me a price which seemed very reasonable. After doing an extensive search I have found 4 property tax liens an IRS lien and a 1000 dollar delinquent water/sewer bill. Also is currently 2 years behind on taxes which has not been sold off yet. I contacted the company that owns all 4 tax liens and was told the pay off with interest would be 22k plus attorney fees. The IRS lien is for 6k plus the current tax bill and water bill puts everything owed right at about 33k..The owner knew there was some liens and wouldn’t be making much money In the deal however the liens are 3k more than her asking price.. so my question is am I able to purchase the house off of her via QCD for next to nothing (basically just to put a little money in her pocket) and then pay these liens just enough to avoid forclosure and then pay everything off with the proceeds of the sale when I turn around and sell a few months down the road. I understand obviously I would need to consult with an attorney but I’m basically just trying to see if a deal like this is possible. This way I could purchase the home with 1/3 of the money and have the money to rehab it..

Loading replies...