Sorry if this has already been covered on this forum.
I am thinking about offering on a piece of land but there are property taxes owed. The seller is asking the buyer to deal with the city to negotiate a deal to either pay them or get them waived. If I can haggle with the city to waive them then it would be worth pursuing. My question is do they, (meaning the city and or the seller) usually expect you to close on the deal before back taxes can be negotiated? Also what are the major red flags to look out for in this type of scenario?
@petra123 I would do any negotiations BEFORE closing on a deal like this. Especially with something like property taxes, which I’ve literally never seen negotiated down - they simply are what they are and if you don’t want to pay them, they’ll take the property from you. The only way to make them go away is to pay them, and when dealing with most motivated sellers, the only way to make sure it gets done is for YOU to pay them. If the numbers don’t make sense, then don’t do the deal.
@donyost Thanks very much Don,yes I was certainly planning to agree all terms before closing. I will look at the comps and if it stacks up then it might be worth paying the taxes to do the deal.
Thanks again for taking the time to reply.