Re: DELINQUENT(s) In Property Taxes. Can I Use Their Status To My Benefit?
Hello everybody,
Seeing the question(s) below, you can tell that I am another newbie crying for help. 
I stumbled upon hundreds of leads with people in my county that fall behind paying taxes on their homes or properties. Some of them are labeled with "DELINQUENT" status.
Can I assume that they have financial troubles and associate those in the “distressed property” category and start to “harass” them to sell or… and here I need your help.
I was wandering if I can mine some gold (or silver) out of this?
I will appreciate if anybody can guide me toward a business idea in this regards.
Any suggestions are appreciated.
Thank you!
Gaby
The game needs to know first. How far behind? First year, second yr. just when. Each state of delinquency has a different strategic reply.
1. yr. you research to see if these are new buyers. If so you send a letter offering to pay their taxes for them.
2. yr. Your letter states that the tax situation is getting dangerous and accumulating. You are willing to pay this for them. Please call.
3.yr. You notice that things are getting worse and you wonder if you might help them with a refinance of their mortgage.
4th yr. You have been watching this situation for some time you will be there next saturday evening at 5:30 PM. Lets discuss what is best for them.
5th Yr. You have a client who has noticed their home and has a run away daughter whom they would like to settle in there with her three boyfriends and the large dog with which she has a long on going relationship. You will be by after church this following Sunday. Best we talk before the bank takes the property away from them.
And the beast goes on. You make the appointments. You are dressed plain, no not as quaker, just plain. Jacket optional, tie a rep. Early Borstal or Yale will do they are similar and only the highly informed can tell the difference. Borstal is of course the reform school for London England. You knock on the door and you carry a 25 measure tape, a clip board with graph paper and you do the floors one by one and all the time you listen. Is it a family dispute, is it criminal, is it a job loss. Is there a new job coming. Is it just screw up by one or the other of the adults. etc. etc. From this you deduce your plan to help or deprive depending on your morality. Thats your affair not mine.
Make Sense??????? Lucius
Well Lucius,
You are talking like you read from a book! Aren’t you?
Have you personally done any of the points you listed above? Or anybody else can share some knowledge/experience with us?
I didn't look too closely to the lists but so far I've seen mostly 1 and some 2 years...
I'll pay closer attention to the lists.
Thank you for your charismatic but helpful answer!
I appreciate it!
Gaby
Well how about this one?
Municipality: G.I. TWP
Parcel ID: (numbers)
Property Type: REAL
Property Address: (address)
Taxpayer(s): I*****N INDUSTRIES
Tax Year: 1992
Tax: $5,294.02
Interest & Fees: $8,845.26
Amt. Due: $14,139.28
Status: FORFEITED *
* The property is subject to the transfer of ownership to Wayne County at a future date due to outstanding delinquent taxes and charges. The County Treasurer adds a $175 fee and $26 in recording fees. Interest is increased from 1 percent per month to 1.5 percent per month back to the date the taxes became delinquent.
TOTAL AMOUNT DUE if paid on or before 4/30/2004: $14,139.28**
** CERTIFIED FUNDS REQUIRED / NO PARTIAL PAYMENTS.
ADDITIONAL TAXES OR ADJUSTMENTS MAY BE DUE FOR THE CURRENT YEAR.
DELINQUENT TAX INFORMATION IS VALID AS OF BUSINESS DAY 4/27/2004.
These guys sound like they didn't pay taxes since 1992?
Is it worth checking out?
What do you guys suggest or do for this kind of situations?
Thanks
Gaby
Hi Gaby,
That looks like a tax sale item to me. I would contact the Tax Assessor's office for that county and ask them if this property is up for sale. Give them the parcel #. If it is, go see the property and make sure a house is there! Then, research the property to see what kind of liens/encumberances are on it. If that works out fine, I would get "comps" from a realtor to determine value. If that value is higher than the 14k to buy it, an investor might like the deal.