I know that we have multiple members of the board that either work in real estate or are quite learned in it. I have a question that I need help with concerning real estate. I hope that y'all can help me out with it.
I purchased a house back in March as an investment from an older gentleman. We had an agreement and contract signed. He then wanted to renegotiate for me to pay his 2015 property taxes since he said he didn't have the money for them. I was already spending thousands of dollars on the property to get it approved from the appraiser so I told him that I would not pay for the taxes before the sale was finalized. I eventually agreed to include the price of the property taxes into the sale price of the house.
Well it has been nearly three months, and he still has not paid the property taxes on the house from 2015. He is now refusing to pay them and said that they are now my problem and not his since I now own the house.
Did I just let this guy take me for an additional $6K?
Am I in fact now responsible for his back property taxes even though we included the price of them in the sale price?
I purchased a house back in March as an investment from an older gentleman. We had an agreement and contract signed. He then wanted to renegotiate for me to pay his 2015 property taxes since he said he didn't have the money for them. I was already spending thousands of dollars on the property to get it approved from the appraiser so I told him that I would not pay for the taxes before the sale was finalized. I eventually agreed to include the price of the property taxes into the sale price of the house.
Well it has been nearly three months, and he still has not paid the property taxes on the house from 2015. He is now refusing to pay them and said that they are now my problem and not his since I now own the house.
Did I just let this guy take me for an additional $6K?
Am I in fact now responsible for his back property taxes even though we included the price of them in the sale price?
