Drive for dollars led me to a house deliquent on taxes...Now What?
Hello BP,
During a casual drive for dollars I came across a house that has some tell tale signs it's abandoned. (out of control lawn, broken awning, looks like nobody has been home).
So I decided to go to look up the property and see who owns the house and if the taxes have been paid. I see 2013 and 2014 have not been paid according to the county website.
The taxes are reasonable to pay to bring current (approx. $6K) but I've never done this before. The houses in the area sell for around $120k. Can someone please direct me as to what steps I need to accomplish in order to do this correctly?
My goal would be to eventually acquire the property, fix it up and sell it. I also know the owner can come back and pay me to get control of their taxes again. If that was to happen how do I establish an interest rate to get paid back and how much time do they have pay me in full?
Your feedback is greatly appreciated!
JL