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Updated over 7 years ago on . Most recent reply

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how do i structure a wholesale deal when the home owner owes property taxes!?!??!

Michael DuVentre
Posted

how do I structure a wholesale deal when the homeowner (seller)  owns the home but owes property taxes!?!??!

is it like this !?!?!?:

1.  option to purchase agreement with assignment clause and clause where buyer will pay property taxes

2. assignment of contract

am i missing something!?!?!?   what  happens at closing!?!?!?

Most Popular Reply

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Michaela G.
  • Investor
  • Atlanta, GA
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Michaela G.
  • Investor
  • Atlanta, GA
Replied

When someone buys property it's usually subject to 'clear title' - that means that any taxes and liens are being paid off at closing out of the seller's proceeds. 

Unless you structure the deal such that the seller will walk away with a lumpsum and you take care of all liens

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