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Updated over 8 years ago on . Most recent reply

User Stats

169
Posts
29
Votes
Jamane Y.
  • Greensboro, NC
29
Votes |
169
Posts

Owner wants to sell house owes back taxes

Jamane Y.
  • Greensboro, NC
Posted

I was contacted by an owner of a house in poor condition. She owes about $11,000 in back taxes on the property. The tax assessed value of the property is $58,364. She told me it is 3 bedroom 1 bath. 988 sq ft. The houses of both sides of the this house are assessed at $116,655  1,788 sq ft. and $114,466 2,120 sq ft. She said the house is in poor repair, needs new roof, plumbing, electrical, maybe more. I haven't seen the inside yet. Need ideas about what to do about this. I want to flip if possible. I also know that the taxes will have to be paid. So I assume the tax amount gets figured into the overall expenses for the house. I know I hate assuming. Thank you in advance for any assistance.

  • Jamane Y.
  • Most Popular Reply

    User Stats

    98
    Posts
    68
    Votes
    Nadia White
    • Wholesaler
    • Monroe, NC
    68
    Votes |
    98
    Posts
    Nadia White
    • Wholesaler
    • Monroe, NC
    Replied

    I agree with @Brandon Battle. Do your home work on the property without even thinking of the back taxes. Make her an offer that makes sense from a business perspective. At closing, the taxes will be paid from the proceeds she will get or she will have to come up with money. Don't think that that is impossible. In the last year, among all our deals, there have been two properties where the sellers had to come up with cash to get rid of the house. Good luck!

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