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Updated about 4 years ago,
Seller Financing with Back Taxes Owed
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?