OK i have a ?
Say if a house has the value of 200k and they owe around 50k in unpaid taxes and they cant pay it.
Can you offer the couple 80k and take the house off there hands and pay the taxes off and resell the house for a profit… <-----Is it that simple or is there more to it…
Or what if you have a list of people who have unpaid taxes on there homes and when you pay off the owed taxes do you own the whole house…?
Anyone can pay the property taxes for a property. You don’t have to own it to do this. If you would like, I will have mine sent to you and you can pay it. However, you won’t own it! In some states there are laws that will allow you to pay the taxes for some specified period of time and then you own the property. These have many requirements though and are not a good investment tool!
As for paying someone 80k and then paying the taxes of 50k, you can do that. So you have a 200k home at the price of 130k and then resell it. Go for it! Chances are that unless you don’t use a title company, this will come up in the property profile/title search. There will be tax liens on the property. The lender, if any, will require these to be paid at the time of closing. Make sure you do your due diligence. If they haven’t paid the taxes, there is a reason. You need to know what that reason is or at least be assured that there are no other items that would rob you of the equity in the home.
So how are the people with the we buy houses making money or the people who say want to stop foreclosur making money…
isnt it buy the unpaid taxes
Read some of the articles that are posted to the left. It will explain all kinds of ways you can make money doing “We Buy Houses”. It basically boils down to, find a motivated seller. Someone with back taxes may qualify for that. You have to find them and then determine just how motivated they really are.