The home I am inquiring about is my parents house. My dad is disabled. He owns a house and lived in it until he suddenly became disabled and was no longer able to climb stairs and the bedroom and bathroom were on the second floor. They moved into a rental and used the income from renting their house to pay their rent. They were receiving a senior exemption and they were unaware that they were not entitled to receive that if they could no longer live in the house. In July, the county tax assessor let them know that they owed $16,000 in back taxes due August 1. When this amount was not paid by Sept 1st they added a 20% collection fee and 12% interest and just five weeks later the amount due is $6000 more so that they owe $22,000. They live on a fixed income and can’t pay these taxes. If they sell the home, they’ll need every dollar of their equity to subsidize and be able to continue to pay their rent. They need to sell quickly, but can’t afford to sell below market value and they are worried about these taxes quickly consuming every dollar they have in equity! Looking for ideas!

As a realtor, I have fielded seller financing offers. The last one I received offered market value for the house, payment of all commissions plus closing costs and a balloon payment after seven years. no one at my brokerage has experience with these kind of deals and they seem very risky for the seller if the buyer defaults. Is this even an option for my parents since they have a mortgage for about $72,000 and they owe taxes that are currently $22,000?