Tax Liens & Mortgage Notes
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
How do I settle "Cash for Key" before Tax Auction?
I have a friend whose property will be going up for auction soon due to delinquent taxes and failure to pay on their payment plan and they have no intention to pull it out of auction. I offered them a sizable amount of cash to handle the matter outside of auction, and to my surprise, they agreed seeing that they were going to abandon the property anyway.
Whats the best way to handle this type of transaction? Quitclaim with disclosure?