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Ask Barrister Your Own Question
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33190
Experience:  15 years real estate, Realtor. Landlord 26 years
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We want to purchase some property. They are 3 years behind

Customer Question

We want to purchase some property. They are 3 years behind on taxes. Two years have tax certificates. This'd their terms : Talked to my mom. We agreed on this.
10% down, you pay taxes immediately, which we will deduct from the 10%.
Owner finances balance of amount owed at 4% for 15 years.
You get quit claim deed
You pay closing costs.
Payments due on first of month. After 5 days, we add 10% of the payment as a late penalty.
You can look up the payment amount online or in apps.
I don't really have time today.
Counteroffer ???
We want to go re look at property and make a counter offer.
We wonder if we should invest in a title search "before" we go look and for counter offer? We just don't want to get into a scam. We love the property, we saw it in 2014. But with the tax liens would it be a bad thing to get into? Just don't want to waste my time and energy
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Barrister replied 5 months ago.
Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question..I think the correct order would be to go look at it again to make very sure that you like the property and want to buy it. Then if you were serious about buying it, I would research comparable properties to make sure that was a fair price for the property. Then I would make a written offer and make it contingent on the property having a clear title other than the tax liens. That protects you if there are other outstanding debts that you don't know about because the quitclaim deed doesn't guarantee that they even own the property...Then if the agree to your offer, you get a title search done to see if there are other issues..But I wouldn't agree to pay any back taxes until you got the title search done to make sure there weren't other issues...thanksBarrister