Updated over 9 years ago on . Most recent reply
Purchasing tax delinquent property
Hi BP community. I recently came across a property that is delinquent on taxes. I am informed that the owner has received notice that the property is now in the process of being taken as a result of this delinquency. The amount in arrears is not very high, and and similar properties in the neighborhood have sold for around $90000. I would like to acquire the property, but not exactly sure of the next steps to take.
Do I contact the current owner, and purchase the home directly from them, or do I contact the sheriffs department at this point? Would I be able to get a discount if I offered to pay in full? I'm thinking it would be a good idea to run a search on the title deed, to ensure that there aren't any liens attached to the property, and perhaps get an inspector to view it before I offer to purchase. Is there something I'm overlooking? Any advice would be greatly appreciated.