Motivated seller with Delinquent Taxes

[Stephen E Drew]

Good morning from NY;

My scenario for the day is this : I have been speaking with a highly motivated seller. We had an great connection from the start, we like each other, and he needs help right now. He owns 2 homes that are in rough shape and have tax liens, and one parcel of commercial land on NY Rt-7 valued by a broker at 800k-1.2m (unknown about liens). He is asking me to help him sell the first of the two homes. I have a multiple buyers who would pick this up quickly but my question lies in what to do about the delinquent taxes.

Schenectady, NY. ARV 190k.

190k x .7 = 133k - 30k (repair) - 5k (wholesale fee) = 98k MAO

What does this look like if I lock up a contract with him at 98k ? The end buyer essentially has to pay the back taxes right?.. therefore I must reduce the PP by the delinquent tax amount.?

I would be happy to pay somebody in this group a fee for the knowledge on how to get this deal done.

The seller told me that he wants 140k cash, or he would hold a note for 100k with a 50k downpayment... being newer to the game.. my assumption is that I can only offer this gentleman 98k cash.

Much love.. enjoy the day !