$1MM in Tax Liens!
I've encountered a property owner who has a duplex with over $1 million in tax liens (state and county) placed on it. The liens originated from prior failed business venture. The property ARV is ~$500,000. I'm interested in buying it for $3-350,000.
Question: Has anyone successfully purchased a property where the leins exceeded it's value?
How did you negotiate with the taxing authorities?
Were you able to get the liens reduced and discharged to enable the sale?