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Updated about 2 years ago on . Most recent reply

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Alexis Currie
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Seller financing with delinquent taxes? Help

Alexis Currie
Posted

I have a seller is willing to do seller financing,  but owes in past due property taxes and is currently on a payment plan. The house has not mortgage and was inherited. My questions are:

Can I go the seller finance route if the seller owes taxes on the house?

Do all taxes need to be paid off before closing?

Is there a way for me to take  on the past due taxes with the seller finance deal?

Thank you for your insight!

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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
Replied

You'll need clear title - and that's only possible if the property taxes are paid.  And, consider that if the seller is unable to pay the property taxes which are most likely at a very low basis since it was inherited, it's unlikely that he has done any needed maintenance either.  Sometimes what seems like a good deal is far from it.  As recommended before, you need a real estate attorney (first) and then an inspector.   Please don't skip either because I know of people who have and it led to a whole lot of not good.

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