Foreclosure & Taxes Owed
Hi,
I have a seller who's home is, in the process of being foreclosed on and seller wants out of the home before the foreclosure goes into affect. The owner is 2-payments behind on mortgage & owes property taxes on home as well. I do have a tenant-buyer to L/O the home to. Who is responsible to pay the back taxes owed. Please creative one's advise.
you step up and make the back pays on lets say sub2.... get control of property... l/o it out.
there may be penalties due also which can skyrocket the amount of back pay due....
So, Davere-Rookie Investor, How soon would the taxes on the property need to be paid, is it before I L/O to my tenant buyer or after.
Thanks Again for the good advise ,
Jean