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Updated over 12 years ago,
Needing Advice on tax deeds. And funding
I have looked over the forums for hours in the past few days with surprise to the wealth of knowledge here. I need some advice or guidance if you will.
I have be talking with a man in my area that owns around 13 properties or so in the Niagara falls area some of which I am interested in. Most homes he owns are assessed at 40k. I had my lawyer right up an offer on one house for 20k and this house needs around 10k into it to be livable hoping to make return on resale. After around 2 months I got a call he wanted 25,000 I said I will see what I can do... But I will not pay more that 20. After looking in to the house he owes 12k in back taxes and after running his name he owes 89k on all his properties total in city tax and 20k in county tax.
Is it was mentioned to me that I can pay his tax and the city of niagara falls with issue a deed.
Would this be revoked if he files bankrupcy because I hear that is what he plans on doing to take care of so of his debts.
Are their ways to get funding to pay for these houses before they go to the auction block in September.
Or should I just walk away...
Thanks
Kevin