Rental Property Investor · Sugar Land, TX · Member since 2013 · 113 posts · 27 votes
While visiting TL properties in the Birmingham area recently, I came across two properties that I have some interest in:
1. Home that has been abandoned, but is in pretty decent shape. It wouldn't take much to fix it up into a nice home in a nice neighborhood! According to Tax Records, the property is owned by a local Realty LLC. Taxes have been delinquent since 2014. Why would they stop paying the taxes for the past few years? Should I contact them first before I try to get it through the State process?
2. Home that is, again in pretty decent shape. It is on the Tax Lien list from the State, but has a For Sale sign in front of it and it seems to be owned by an LLC in Florida. Taxes have been delinquent since 2016.
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
7y
To me just because it is in LLC doesn't mean anything different. LLC didn't pay taxes for the same reasons other people don't pay property taxes. Owner of LLC could be dead, incapacitated, broke, deadbeat, busy, overwhelmed, moved with no forwarding address, in prison, bankrupt, and the list goes on and on and on.
Contacting them depends on your strategy. Some investors like to buy before the sale. Some at the sale. Before the sale could speed things up for you. Could cost you more money....if you have to pay the taxes and the owner. Before the sale could loose you the property, if you wake them up and they decide to pay off the taxes....and therefore it never goes to sale.
If there is a sign there for sale, why not call on the sign?
JD, CCIM , Real Estate Broker · Tuscaloosa, AL · Member since 2014 · 1k+ posts · 1k+ votes
7y
@Robert Sims If there is a for sale sign it is not abandoned. The one owned by the real estate company is probably not abandoned. Very easy to accidentally not pay taxes in Jefferson County if you own multiple properties. They sometimes credit checks for multiple properties incorrectly, sometimes late posting and then additional interest due so they reject the payment, lots of reasons. Ask questions.