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Updated almost 6 years ago on . Most recent reply

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56
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Felicia Hamilton
  • Rental Property Investor
  • Atlanta, GA
31
Votes |
56
Posts

Unpaid property taxes

Felicia Hamilton
  • Rental Property Investor
  • Atlanta, GA
Posted

I was looking around at properties in an area that I'm highly interested in, and found one multifamily building that the owner has not paid the property taxes for 2018 (so 6 months past due).  The building is not listed for sale, but I'm wondering... is this indicative of a financial hardship?  Should I approach the owner with an offer to buy?  Is this in bad form???  Should I mind my own business on this... Lol... 

Anyone familiar with the rules of acquiring properties with delinquent property taxes?  I imagine, being 6 months late is not a reason to force a sale, but what is the time frame?

Most Popular Reply

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285
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220
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David Stone
  • Rental Property Investor
  • Davenport, FL
220
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285
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David Stone
  • Rental Property Investor
  • Davenport, FL
Replied

6 months is not too bad. It could be an indicator of financial hardship, but it also may be too early to tell. Call your county and find out how far past due they must be for the county to auction the property. In my county, it is 3 years. We picked up a property that was 2 years 6 months behind on taxes and needed a full renovation to make it livable. We offered to pay cash, pay all of their back taxes and closing costs and they accepted (after almost a year of conversation). I would make contact (don't need to mention the behind on taxes, just a general I want to buy your property) and get to know their situation and if it seems like an opportunity, keep in touch until they become ready to make a deal happen, then you will be at the top of their radar when they become motivated enough.

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