Where Do I Go From Here? - Posted by BR2

Posted by phil fernandez on May 30, 1999 at 12:38:19:

Somebody bought the tax certificates so I would think that they will have to be paid with interest. The back taxes that have not gone to tax sale in certain cases could be abated by the city if the city sees no value in the property. Talk to the city and make them aware of the properties condition.

Where Do I Go From Here? - Posted by BR2

Posted by BR2 on May 30, 1999 at 10:26:16:

Found a home on a large lot. The home needs to be demolished but the city just hasn’t noticed it yet. This property has taxes owing in the amount of 9K. Taxes for 95 and 96 were purchased at tax lien sale.

I know these purchasers don’t know the condition of this home and it’s just a matter of time before its condemned and demolished. Is there anything I can do here? If I had to pay 9k I would. It would probably take another 15k to rehab. (FMV of homes in this area are around 35-40k). What happens if the city tears it down, are taxes still due?

Re: Where Do I Go From Here? - Posted by SCook85

Posted by SCook85 on May 30, 1999 at 20:08:26:

The first thing that comes to mind is that if the home needs only $15k worth of work it really doesn’t sound like it needs to be demolished. It is almost as if you are contradicting yourself. If the home really needs to be torn down due to being so dilapidated it may cost much more then $15,000 to fix the home up. Check your repair figures for the home before proceeding, if you are only a few thousand dollars off this will be a very tight deal.