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Updated about 10 years ago on . Most recent reply

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Rod Coleman
  • Real Estate Agent
  • Chester, VA
5
Votes |
59
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Help, I have a wholesale deal with taxes owed on the property how do I structure it for the buyer and the seller

Rod Coleman
  • Real Estate Agent
  • Chester, VA
Posted

Hello I am fairly new to wholesaling and i have a potential deal that has back taxes owed on it, however since i know that the buyer may be able to talk to the city and get the taxes reduced should i just write the contract to the seller for the difference, then market the deal to a buyer with the lien included in the purchase price and making note of it in the break down that the extra amount is due to the back taxes on the property and if they call city hall they may be able to get them reduced?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

The property taxes will Not be discounted, get that idea out of your head.  Just make the owner aware they will be deducted from her proceeds at closing.  There's either a deal there, or there isn't.

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