30+ liens and 100k+ in back taxes! Worth?

Buying & Selling Real Estate
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30+ liens and 100k+ in back taxes! Worth?

Kent Chu
Hayward, CA · Member since 2016 · 12 posts · 6 votes

Hi BP,

I'm looking at this house that's listed on the MLS and it has over 100k in back taxes(property). I'm going to find out what those liens are and see if they see negotiable. This is a reo sale.

Two questions: depending on who holds those liens I will have to negotiate them individually? Are property taxes negotiable?

Any advice is appreciated!

Kent

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  • Anthony G
    Rental Property Investor · Indianapolis, IN · Member since 2012 · 91 posts · 41 votes
    10y

    @Kent Chu 30 liens is a lot to deal with, what's the ARV for this house? I would think in most states the foreclosure would wipe all of the other liens out and require the bank to pay taxes, but I'm not sure.

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  • Jeremy Brown
    Rental Property Investor · Folsom, CA · Member since 2016 · 140 posts · 70 votes
    10y
    If it looks like a huge hassle, you might be the only one who's willing to buy. Maybe make an offer assuming it's all non-negotiable and then see what you can do if/when you own it. If it's mechanics leans or something like that, they probably are negotiable.
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  • Adam Adams
    Podcaster & Multi-Family Apartment Investor · Denver, CO · Member since 2016 · 273 posts · 138 votes
    10y
    Kent, what city and state is he property located in? I need to know if he back taxes are part of a Homestead or not.
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  • Kent Chu
    OP
    Hayward, CA · Member since 2016 · 12 posts · 6 votes
    10y
    I'm not sure what the arv will be yet. I will take a look at the property next week with a contractor to estimate the costs. Adam - the property is in Oakland California.
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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    property tax's are not negotiable and not part of a homestead @Adam Adams.  if it went through an actual foreclosure then as stated most if not all the junior liens should have been removed from title .. they still exist as to the person who lost the home.

    so something is no adding up.

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