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Updated about 11 years ago,
How do I wholesale a property with 4300 Taxes owed?
So I have an extremely motivated seller wanting to get rid of a 3-family property for 500 dollars. It's in extremely rough condition, but could be a decent cash-flow property if done correctly.
The problem as I see it that the property currently has 4300 in back taxes.
The lady selling the property now is listed as the owner on the auditor's website, but says she never transfered the deed into her name and didn't knwo there was back taxes when she bought it, and didn't pay taxes on the property while she attempted to repair it.
I'm not sure how this situation goes forward. I would've guessed taxes would've been settled at her closing but apparently not. So if I were to get this under contract and flip the dead, the owner now would have to pay all taxes correct?
Any advice would be super helpful!