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Updated about 2 years ago on . Most recent reply
Seller financing with delinquent taxes? Help
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!
Most Popular Reply
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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