Reply to Do you know the story behind this partially framed house in Georgetown?

Forum Index » Real Estate

Reply to "Do you know the story behind this partially framed house in Georgetown?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Owner: RES MANAGEMENT SERVICES LLC
11702 BISHOPS CONTENT RD
BOWIE MD 20721-2572

They have an outstanding property tax balance of $124,000 on 1600 37th and $38,000 on 3703 Reservoir  :shock:

The Redfin transaction history is not correct. DC property records are showing that 3703 Reservoir changed hands in Aug 2022 for $1.45M and 1600 37th changed hands in Aug 2022 for $1.675M.

Feels sketchy AF. Make sure you buy the full title insurance, who knows what liens are on these property. Probably lots of unpaid creditors.

Lots of public info: https://mytax.dc.gov/_/?Link=PropertyOptions[/quote]

Great work PP! [b]And how could they possible be that behind in property taxes, wtf.[/b][/quote]

It looks like no property taxes have been paid since 2022 on either property. New entity that purchased in Aug 2023 likely assumed the existing tax liability and that new entity has also not paid any property taxes. At some point last year, DC applied the "vacant" penalty property tax rate which increases the tax rate by 3-4x. So with interest and penalties, that's how you have an outstanding tax bill balloon so quickly.

I'd be curious to know which bank is on the hook to assume these properties once the buyer defaults. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics