Posted by John on July 25, 2003 at 02:13:55:
Thanks Dee, I have heard of something like that before but you shed some interesting light on the tax sale stratagy .
-John
Ever low ball tax assesors office? - Posted by John TX
Posted by John TX on July 23, 2003 at 19:42:02:
Seller wants money to pay 21,000 in back taxes, anyone ever go to the tax office with a low cash offer or payments.
What was the out come?
Interested to hear.
-Thanks John
Nope. Forget that strategy. NT - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on July 24, 2003 at 22:18:03:
No Text
Re: Ever low ball tax assesors office? - Posted by Kristine-CA
Posted by Kristine-CA on July 24, 2003 at 21:26:30:
In CA, as far as I know, there is never a reduction in taxes and penalties due. If it were me (and when it is me), I’d use the tax default as part of your strategy to get a deal on the property. The seller doesn’t need 21K to pay the back taxes. Rather, the property is encumbered with at least 21K in debt. You offer to buy the property “as-is,” taking into account the tax debt and any other liens and necessary repairs.
Sincerely, Kristine
Re: Ever low ball tax assesors office? - Posted by Dee-Texas
Posted by Dee-Texas on July 24, 2003 at 07:24:29:
In my area, the tax assesors office shows all of the taxes owed, city, county and school. The people are given a set amount of time to pay, then the interest starts monthly … after a certain amount of time the property is sold at the courthouse steps for back taxes owed (yes they can work out a payment plan).
If no one bids on the property because of the taxes being way over what it’s worth or causing the property not to sell …the property is struck back meaning it goes back to the city,county,school…this mean the city,county,school are getting NO taxes on this property. Here in Texas you can go to the enity that is over whichever tax is owed and offer a lower figure. They had rather have something then a NON-Taxable property.
Sometimes they will take half or less. I’ve seen properties in bad repair go for $1,000.00…because the city knew that the buyer would fix it up and start making those taxes.
Moral of the story…just ask…all they can say is no…and if they say yes…you have found a goldmine for years.
Great $uccess,
Dee-Texas
Its called a tax abatement - Posted by JD
Posted by JD on July 23, 2003 at 22:56:11:
Donald Trump did it when he bought his first NY city hotel (Commodore?). Extraordinary situation, high profile commercial property, 10 years of back taxes. I would not waste my time asking for a tax abatement unless the situation was similarly extraordinary.
Re: Ever low ball tax assesors office? - Posted by Jeffery (La)
Posted by Jeffery (La) on July 23, 2003 at 21:45:42:
have the tax appraiser go out and look at the house. If it’s appraised at a lesser amount, it would reduce the tax bill. As far as a lowball offer on the back taxes, I really can’t see where that would benefit the state. I would try to get the appraised value reduced.
Happy hunting
Jeffery in La.
Re: Ever low ball tax assesors office? - Posted by Bill H
Posted by Bill H on July 23, 2003 at 20:23:46:
Taxes being the most senior lien on property I have never heard of the tax collector backing down or giving a discount. Imagine the consequences if they did…everybody…would want a deal on their taxes.
I have heard of lots of times the tax collector will work out a payment plan. I started to buy at tax lein yesterday for a very large sum (would have been a helluva deal for me) and was told the county and party going to sale had worked out a payment plan.
Have your seller ask for a payment plan. Deduct it from the seller’s proceeeds and at least it is not one huge bite at one time.
Good Luck,
=======>bill
Re: Ever low ball tax assesors office? - Posted by Mike
Posted by Mike on July 23, 2003 at 20:19:03:
I would like to know the answer to this myself.
-Mike
Re: Ever low ball tax assesors office? - Posted by John
Posted by John on July 25, 2003 at 02:16:18:
Good point. Thanks Kristine
-John