Mobile, AL · Member since 2018 · 15 posts · 3 votes
Hi! Can someone explain to me how wholesaling tax delinquent properties would work? I have a list but not sure about the process.
1. What makes someone with a tax delinquent property a "motivated seller?" As far as I understand, they're not about to lose their house like, for example, someone in pre-foreclosure, so I'm not sure what the motivation is.
2. How does the tax delinquency factor into the wholesale fee?
@Account Closed Typically the seller would be motivated if they are 2 or more years behind on taxes. The reason being is the county can still place the home up for auction via sheriff sale. It is only a matter of time that the property will be placed in auction by the county. You definitely can factor in a wholesale fee since you are buying the house for .30 to .40 cents on the dollar. The key here is to build rapport with the seller and see what it is they really need and how you can help them with a cash offer.
Mobile, AL · Member since 2018 · 15 posts · 3 votes
7y
@Joseph Fields Thanks! I have a list of tax delinquent properties from last year, so they may not be motivated enough to sell yet. I've seen people on the list with a ride range of delinquencies. Some people only owe 100 bucks, and others owe 50,000 to 60,000 dollars. So I'm not sure how those figures would factor into the sale/purchasing/wholesale price.