All Forum Posts by: Charles Sullivan

@Cody Backus thats interesting. I figure a contract would only be assignable with those specific words. What other language could make a contract assignable?

@Cody Backus thats interesting. I figure a contract would only be assignable with those specific words. What other language could make a contract assignable?

Hey guys. Here's the deal. I've been speaking with a seller about her vacant property. She's willing to sell. She has an IRS lien against her. Could someone direct me to a thread or provide me with info to go about this one. It's not up for auction. The lien isn't from the bank. Im hoping to wholesale this one. I honestly don't know where to begin to get the ball rolling. I've read if she agrees not to receive any profits from the property then we could try a release of lien?

Hey you guys thanks for the input. Yeah, I contacted an attorney and the city tax assessor last Monday and after finding out they would not allow the continuation of the payments me and the seller had a long talk. he did call back and is willing to really negotiate that price. thanks guys!!

@Mike Flora lol, no its not a mobile home. Im in San Antonio, TX. So heres the deal, Vacant property 

ARV 60K

Delinquent tax: 15K

Seller is set at 32K(17k for seller and 15k paying for taxes)

Rehab about 20-25K

I was trying to think of ideas to get the deal done if I can't get the seller to go down from the 32K. So I figured if I can set up installments for the 15K then I could sell the property for 20K(saving the end buyer some cash), then the end buyer could take over the taxes until they sell. If this isn't an option then I'd just have to keep negotiating. But I haven't been able to speak with anyone.

Thanks @Dmitriy Fomichenko , I am currently searching for attorney's, haven't been able to speak to any being that its the weekend. 

Hey @Mike Flora so with me making the down payment and arrangements for the back taxes then its considered current? We haven't fully negotiated prices but for example. say the seller accepts 5K offer there is 5K in taxes. Instead of selling to the end buyer for 12K I could sell for 10K and let the end buyer take over the installments?(these aren't actual numbers)

Hey guys, long time no see! Still here in San Antonio. While being away from the BP community I've had some ugly experiences, fell short a few times, and closed a few deals(Wooo!!). So, I just came across a property that has delinquent taxes, I am looking to wholesale the property(my first property with back taxes). The seller and I agreed that I could make a down payment for their back taxes and set up payment arrangement for the remaining balance. However, I'm stalled when it comes to writing up the contract. The property will not be free and clear at point of sale(because back taxes will be on installment). So what verbiage is necessary on my A-B contract as well as B-C being that the taxes will be on installment?? 

*In hopes to make a great deal for my end buyer*

The plan is to basically put delinquent taxes on back end. offer seller net price. inform end buyer of payments of back taxes but also sell the property at a really good price.

Hey @Mark Servin I am a wholesaler, with growing inventory. Lets connect. 

@Account Closed Will do!! thanks.

With being able to get many properties under contract in a short amount of time. My partner and I are finding it to be a little challenging with connecting the buyer to the property. Is it proper etiquette to just out right ask our buyers "What are you looking for"?(Not necessarily with those words).  Or should we continue to just send everything we have their way? Seems like it would be a bit tedious to continuously send properties that they are not the least bit interested. Yes, we are still wanting to expand our buyers list. Investors welcome!