JHZR2
Staff member
There is a piece of property that Im looking to possibly buy, really good deal, would be useful for a number of things, etc.
Thing is, the owner currently owns it in the clear, but owes back taxes.
So here's the deal. I dont think its worth the assessment. And what Id buy it for (which is an agreed upon price with the seller) is nowhere near the assessment. So... That means that the taxes owed are also too high (they were taxed based upon a faulty assessment).
So the property currently has a lien on it from the municipality for the back taxes, with more coming due soon. To date, the town hasnt done anything about the owed taxes.
Is there and if so, what is the recourse for this? I dont anticipate the property going to Sheriff's sale anytime soon, so the real question becomes, how can I negotiate the back taxes down?
I get how one fights the assessment so that future taxes are lower, but is there an approach to fight the back due taxes? If I can settle them for pennies on the dollar somehow I wouldnt want to negotiate anything else with the seller... And I suspect that the seller wont be able to sell it without paying the taxes. I also doubt the seller would accept a "garnished" payment which would be our agreed upon price minus the back taxes...
So, any recommendations on an appropriate strategy here?
Thanks!
Thing is, the owner currently owns it in the clear, but owes back taxes.
So here's the deal. I dont think its worth the assessment. And what Id buy it for (which is an agreed upon price with the seller) is nowhere near the assessment. So... That means that the taxes owed are also too high (they were taxed based upon a faulty assessment).
So the property currently has a lien on it from the municipality for the back taxes, with more coming due soon. To date, the town hasnt done anything about the owed taxes.
Is there and if so, what is the recourse for this? I dont anticipate the property going to Sheriff's sale anytime soon, so the real question becomes, how can I negotiate the back taxes down?
I get how one fights the assessment so that future taxes are lower, but is there an approach to fight the back due taxes? If I can settle them for pennies on the dollar somehow I wouldnt want to negotiate anything else with the seller... And I suspect that the seller wont be able to sell it without paying the taxes. I also doubt the seller would accept a "garnished" payment which would be our agreed upon price minus the back taxes...
So, any recommendations on an appropriate strategy here?
Thanks!