Property purchase question for back taxes

**speedfreakracing** · 10-14-2009, 03:13 PM

I've found a parcel of land that I'm interesting in purchasing that was a foreclosure (house burned down and it was transferred from the bank to the LLC via quit claim deed for $10 over 2 years ago). I have done a title search and I found the only lien owed is $10,000 for back taxes. The problem I have run into is the owner is an LLC company. I looked them up by their address listed on the title and its registered to a hotel in West Palm Beach, Florida (the suite number is a hotel room). I found the owners name of the LLC and found that he also owns approximately 25 other LLC's all registered to this hotel room. I've contacted the hotel and they have no idea who this guy is. I've tried to get ahold of him to no avail. Do I have to wait until the tax auction to purchase this property or is there any other way I can acquire this property before then? I know a lot of people have been watching this particular parcel waiting for it to go up for tax auction. Its a sealed bid auction and I fear that I will be outbid (would be nicer if it was a live auction). Any ideas would be greatly appreciated. A friend of mine said to pay off the back taxes and the property owner has 6 months to pay you back plus interest or its yours. But I think thats with the tax auction (not actually paying the taxes before auction).

**JRamirez** · 10-14-2009, 04:32 PM

I would think you would need to wait. Especially under those situations I would feel safer waiting.

**taxlienadvisor** · 01-06-2010, 12:58 AM

Hello,

I would like to offer my input to your question. No, you don't necessarily have to wait till the proeprty goes tot he tax deed sale, and you are on the right track. You have to get in touch with the property owner, but it sounds like you are having much difficulty in doing so.

Also, your friends input is correct. You should see if you can purchase the tax lein certificate for the $10,000. Then 2 things will happen. 1. The property owner will redeem, and then you may be able to contact him to sell the property to you. or, maybe he won't redeema nd you will be the proud owner for just the unpaid taxes.

If the redemption rate is only 6 months, are you in Texas or Maryland?

Originally Posted by speedfreakracing

I've found a parcel of land that I'm interesting in purchasing that was a foreclosure (house burned down and it was transferred from the bank to the LLC via quit claim deed for $10 over 2 years ago). I have done a title search and I found the only lien owed is $10,000 for back taxes. The problem I have run into is the owner is an LLC company. I looked them up by their address listed on the title and its registered to a hotel in West Palm Beach, Florida (the suite number is a hotel room). I found the owners name of the LLC and found that he also owns approximately 25 other LLC's all registered to this hotel room. I've contacted the hotel and they have no idea who this guy is. I've tried to get ahold of him to no avail. Do I have to wait until the tax auction to purchase this property or is there any other way I can acquire this property before then? I know a lot of people have been watching this particular parcel waiting for it to go up for tax auction. Its a sealed bid auction and I fear that I will be outbid (would be nicer if it was a live auction). Any ideas would be greatly appreciated. A friend of mine said to pay off the back taxes and the property owner has 6 months to pay you back plus interest or its yours. But I think thats with the tax auction (not actually paying the taxes before auction).