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Updated about 4 years ago,

User Stats

67
Posts
15
Votes
Douglas Curtiss
  • Investor
  • Connecticut
15
Votes |
67
Posts

Seller Financing with Back Taxes Owed

Douglas Curtiss
  • Investor
  • Connecticut
Posted

I have a rather unique situation. I have a property that I obtained through a tax lien foreclosure and I have been attempting to sell it for most of the summer. It is listed for $37,500 on the MLS but the offers we have received are all for selling financing.

The issue is that the property has about $9700 in back taxes that need to be paid off.  Most owner-financing offers are for about 10-20% down which won't pay off the back taxes.  I'd pay them off now myself but don't have that cash available in the account I am using.  

Obviously if someone came with traditional financing or all cash the taxes would be paid off, and this would be a moot point.  But the offers haven't been coming except for owner financing.

Any brilliant ideas?

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