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Updated almost 12 years ago,

User Stats

12
Posts
2
Votes
Alan Langer
  • Rye, NY
2
Votes |
12
Posts

Real estate Deal with Tax lien

Alan Langer
  • Rye, NY
Posted

Hi,

I found a distressed seller who wants to get rid of his property.
His house appraised around 500k but the market value is more towards 440k
He owes the bank 410k and there is a 15k Tax lien on the house. The house also needs about 10K in updates..
I'm thinking a subject to deal and than a lease option but i have to get rid of the tax lien first right?
Any suggestions how to structure a deal here?
Any suggestions is much appreciated!

Thanks!

Alex

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