I found a lady through my marketing that owns a vacant house. It is worth 98K all fixed up, but it needs a ton of work. Everything needs to be gutted-interior and exterior- new roof. The foundation looks good though. As far as I know there are no liens on the house. The house is all paid off- but she owes $2300 in back taxes. I do not have $2300 to pay her taxes. How would I go about this deal using an option and assignment? Would I make the buyer(assignee) pay the taxes when they put the money up for it?
If you are controlling this deal via a Pure Option and then assigning it, the tax lien is of no consequence to you. The end user/assignee is the party responsible for it, and that would be squared away when they exercise their option to purchase and the deal closes.
what about all of the belongings in the house? no one has lived in the house for a number of years. there is a bunch of old stuff in the house. is that also between the buyer and seller?
Who’s possessions are they? A previous tenant? The owners?