OfflineHi All,
I hope this finds you well and in great spirits!
I went to an US Marshall auction yesterday in which I was the highest bidder but I failed to do a complete check on the property. After the auction I found out that the property in question have back taxes dated since 2000. Therefore I would like to know what are my options and my chance on getting the city to reduce/forgive the taxes owe which might be close to 100k. Please advise.
Regards,
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Auctions are not for the inexperienced. You need to thuroughly understand the legal responsibilities of making a bid. Before the auction you need to have run a title search to determine if there are existing liens against the property. The problem with that is the time or money do do the title search can all be for naught if you aren't the high bidder. Weigh your options, are you better off walking away from your deposit or closing on the deal?
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125