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Updated over 4 years ago,
How to make an offer on a tax delinquent property?
Found a person who has a house worth $200k, he has 50% equity and is behind $20k in taxes.
Shortly they will take his home and I know for a fact he won’t be able to pay any taxes anymore.
How can I structure a deal where I can create a win win situation for both of us where he can walk away with some money, and I can buy his property before the banks takes it.
I was thinking about offering $150k
$100k to pay off the loan
$20k to pay off the tax debt
$30k so he can start again somewhere else
Any feedback is appreciated
Thank you