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Updated over 15 years ago on . Most recent reply

User Stats

421
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50
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Skylar Howard
  • Real Estate Consultant
  • Siesta Key, FL
50
Votes |
421
Posts

REOs have back taxes! What?

Skylar Howard
  • Real Estate Consultant
  • Siesta Key, FL
Posted

Does anyone have any idea how to get back taxes reduced, or am I just in dreamland?...Let me explain. I have 2 REOs that I am trying to buy, and they have back taxes. Understand that I have bought many REOs this year, and I know it comes with the territory, but only one had taxes due (about $500)... One of the properties I have under contract is owed $6,500, which are 2 yrs old. The other, $16,000, 10 years old. How can taxes be owed for 10 years with no tax sale? Does this make any sense? These damn taxes make the deal not such a good deal anymore... If anyone has any ideas, please chime in. Even if your idea sounds unimaginable, don't hesitate to post. At this point I will give anything a try!
:crazed:

Most Popular Reply

User Stats

342
Posts
15
Votes
Paul Cordero
  • Scottsdale, AZ
15
Votes |
342
Posts
Paul Cordero
  • Scottsdale, AZ
Replied

This is usually what you get in a bulk package...a lot of crap. If the bank is conveying the property as-is with all taxes, liens, title issues, etc. in place? you need to lower your offer price then.

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