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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Watch Out For Property Taxes Posted by SeanW on August 27, 2003 at 4:49 PM I'd been kinda lazy about checking back taxes on my prospects. I figured, what's a thousand bucks or so of tax, in the grand scheme of things? Then I noticed a clean looking house go to sale at a reasonable price. But, there were no bids-- and it went back to the bank. When I checked the tax records, I realized they made the difference on this deal. (They hadn't been payed in 5 years, which came out to about 6% of the marketable value of the house.) Just enough, for the other investors to go thumbs down on that one. I'm surprised this can happen. I would have thought a foreclosure would have started long before. Isn't paying tax (like keeping the property insured and repaired) part of the stipulations in a deed of trust? Follow Ups: Check the obvious all the time.. Ward-CA- 8:03 PM, 08/27/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I'd been kinda lazy about checking back taxes on my prospects. I figured, what's a thousand bucks or so of tax, in the grand scheme of things? Then I noticed a clean looking house go to sale at a reasonable price. : But, there were no bids-- and it went back to the bank. : When I checked the tax records, I realized they made the difference on this deal. (They hadn't been payed in 5 years, which came out to about 6% of the marketable value of the house.) Just enough, for the other investors to go thumbs down on that one. : I'm surprised this can happen. I would have thought a foreclosure would have started long before. Isn't paying tax (like keeping the property insured and repaired) part of the stipulations in a deed of trust? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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