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Updated about 4 years ago, 11/03/2020

User Stats

32
Posts
14
Votes
Mark Lewis
  • Investor
14
Votes |
32
Posts

Deal Closed Seller Owed Back Taxes What Now?

Mark Lewis
  • Investor
Posted

Hey BP’ers!

So I wonder if anyone has dealt with my issue before and how it should be handled.

I recently purchased two multi family properties from the same seller closing at different times and funded differently. One was a loan in my name with traditional funding and went fine. The second property was purchased with a commercial loan. We closed and I was told sellers attorney sent checks out to satisfy all taxes and water bills or so I though. 2 months later the back taxes totaling roughly $1,500 were never paid. Contacted my attorney and explained what happened then they said I am right. They reached out to sellers counsel and basically he said the deal took so long to close and he wouldn’t have been liable to pay them if we closed sooner. He could’ve walked away but didn’t. My attorney reached out to his attorney 2 times to no avail now they said I would have to take him to small claims court to try to get the money for the back taxes? Is that my only option because I feel the lawyers missed this and they should pay me out and they can chase him around for this balance? Has anyone dealt with this before?

Thanks,

Mark

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