Owner owe 12k in taxes looking to wholesale

[Lemont Williams]

So I'm in a situation where I recently just talk to a property owner i'm in Columbus Ohio and the property is about three beds one bath has potential for spare room downstairs but the real question is she told me she owes 12,000 in property taxes she inherited property from her dad he paid cash on the property, he recently just passed away and she called me about selling and she let me know that she owes taxes she's looking to get 40 K out the property I was doing some of my research and I was noticing the properties are selling for about 50-80k then I went to the Franklin County clerks of courts and it says that she has a pending case open with a pre-foreclosure so I'm wondering will I still be able to wholesale the property and if anybody knows some general prices of remodeling a kitchen for a house in that price range, also remodeling bathrooms change indoors and refinishing floors house is about 925sqft because I'm still trying to figure out the estimated repair cost to make an offer ?

[Paul Amegatcher]

Originally posted by @Lemont Williams:

So I'm in a situation where I recently just talk to a property owner i'm in Columbus Ohio and the property is about three beds one bath has potential for spare room downstairs but the real question is she told me she owes 12,000 in property taxes she inherited property from her dad he paid cash on the property, he recently just passed away and she called me about selling and she let me know that she owes taxes she's looking to get 40 K out the property I was doing some of my research and I was noticing the properties are selling for about 50-80k then I went to the Franklin County clerks of courts and it says that she has a pending case open with a pre-foreclosure so I'm wondering will I still be able to wholesale the property and if anybody knows some general prices of remodeling a kitchen for a house in that price range, also remodeling bathrooms change indoors and refinishing floors house is about 925sqft because I'm still trying to figure out the estimated repair cost to make an offer ?

 Your seller is in no position to demand $40k considering the property is in preforeclosure.  Lets assume the property is worth $70k fixed up. Lets also assume the properry needs $20k in rehab. Using the 70% rule the most you could offer without your wholesale fee will be $29k.  Now if you add a $5k wholesale fee then your max offer will be $24k.