I found a junker today that the owner is ready to be done with. He wants $2000 + the delinquent taxes paid off. I called the city and the taxes are about $2700. So should I offer him $4700, or $2000 with the stipulation that I’ll pay the taxes? I’m concerned about giving him $4700 and then having him not use some of that to pay the taxes. Please advise.
How will you close this? If you are using a lawyer/title company/etc. just stipulate in the contract that $2000 is for the buyer and $2700 is to pay the back taxes…
If you are closing this “on the kitchen table”, go with him to pay the taxes.
Keith
I’m actually looking to wholesale this deal. So maybe I could say what the total is in the contract and then specify that the buyer gets $2000 and $2700 is for taxes, to leave more options for the end buyer?
usually city/counties don’t care who pays the taxes; as long as they get $$$
I’d pay $2k to the owner for the title and pay the taxes yourself.
Pay him the 2k and have the other check made out to the county for the $2,700.00 Show him the check and pay it yourself.
Or use a title company and let them pay it all off.<— Thats what I would do.