Tax Lien Sale Courthouse Steps - Really weird - Why did this happen????

[Russell R Massey]

Atlanta.
Referencing a small corner property, 45'x20', zoned Residential. Planning says nothing can be built there (well it could but it is VERY VERY VERY unlikely it would be approved per zoning). Long established residential neighborhood and used to be a corner store. Completely demolished and no slab left for 40+ years. Vacant for 40+ years.
In other words, anyone who buys it is buying the right to pay taxes on an unsellable lot forever. 
I had looked for the relatives of the deceased owner before with no success. 

It went up for tax sale Nov. 2023.

Somehow, a quitclaim was made from the sole heir just 5 days before  the tax sale - and recorded in the deed book the day after the tax sale.  

The tax debt was about $7k on the property. The property tax lien sale amount was $80,000 on the courthouse steps!!! So, they are close to $90k in. I own the surrounding lot and was the second bidder. Based on similar lots, it should have gone anywhere from not purchased to 3-9k. 

Can anyone clue me in to what the heck is goin on here? 
I will be glad to send you a $50 Amazon gift card for a really plausible theory. 

Prior Theories:
It could be turned commercial (no)
A residence could be built there (no)
They bought it to sell to me at a profit because I am the only one who cares about this. (Plausible for a $5k win. Not plausible for $80K+back taxes which gets up to $90k. If I would have paid more, I would have bid more)
They made a mistake and thought it was a different property (there are several with the same roadname but not the same Parcel - and this was professional who was bidding on several properties)

Can anyone clue me in to what the heck is goin on here?

[Alecia Bolton]

Maybe it's a non-profit who wants to turn it into a community garden and somehow got a grant and greased some wheels in the planning office?

[Jay Hinrichs]

Quote from @Russell R Massey:

Atlanta.
Referencing a small corner property, 45'x20', zoned Residential. Planning says nothing can be built there (well it could but it is VERY VERY VERY unlikely it would be approved per zoning). Long established residential neighborhood and used to be a corner store. Completely demolished and no slab left for 40+ years. Vacant for 40+ years.
In other words, anyone who buys it is buying the right to pay taxes on an unsellable lot forever. 
I had looked for the relatives of the deceased owner before with no success. 

It went up for tax sale Nov. 2023.

Somehow, a quitclaim was made from the sole heir just 5 days before  the tax sale - and recorded in the deed book the day after the tax sale.  

The tax debt was about $7k on the property. The property tax lien sale amount was $80,000 on the courthouse steps!!! So, they are close to $90k in. I own the surrounding lot and was the second bidder. Based on similar lots, it should have gone anywhere from not purchased to 3-9k. 

Can anyone clue me in to what the heck is goin on here? 
I will be glad to send you a $50 Amazon gift card for a really plausible theory. 

Prior Theories:
It could be turned commercial (no)
A residence could be built there (no)
They bought it to sell to me at a profit because I am the only one who cares about this. (Plausible for a $5k win. Not plausible for $80K+back taxes which gets up to $90k. If I would have paid more, I would have bid more)
They made a mistake and thought it was a different property (there are several with the same roadname but not the same Parcel - and this was professional who was bidding on several properties)

Can anyone clue me in to what the heck is goin on here?

maybe as mentioned some thing your not thinking about.. or a big bad boo boo.  do no if they can get those back tax's waived if they do some sort of affordable housing ?

[Russell R Massey]

It is 45'x20 total lot size and cannot be built on for setbacks, minimum house size, and more. So no affordable housing can be built there. 

[Kevin Sobilo]

@Russell R Massey, a few thoughts:

1. Zoning ordinances in some areas don't mean much. In my market zoning ordinances often make 95% of existing residential lots nonconforming where nothing could be built within the ordinance. So, they become somewhat unenforceable as they need to allow some uses. So, setbacks etc are often waived as long as the use is in line with the character of the neighborhood. 

2. What is the area like? If its urban at all perhaps an ancillary use such as a paid parking lot?

3. I suspect that the property MUST be allowed to be used. Zoning cannot take all uses away, otherwise the municipality would have to buy the property. Its like eminent domain but initiated by the owner because they will claim an "unlawful taking" of property by denying all uses for it.

4. I'm not familiar with your state's tax sale process but in my state if the tax debt is paid prior to the sale (EVEN MINUTES PRIOR) then the sale is voided. I have been at auctions where people in the audience claim the owner is right that moment paying the taxes. They skip that property and send someone to verify and come back to it later after they know if they were paid or not to avoid a situation like may have happened in your case. So, perhaps they didn't pay the $80k amount and the buyer at that sale was refunded. In which case the new owner would only be into the property a small amount. 

[Kevin Sobilo]

@Russell R Massey, I may have the answer!

The buyer bought the property from the heir and ALLOWED the property to continue to tax sale KNOWING it would sell for MORE than they paid the heir!

So, if for example the buyer paid the heir $10k for that quitclaim deed then did NOT pay the back taxes prior to the sale. The property sells for $80k but the taxes owed are only $7k, that means the buyer who bought the property from the heir and then LOST it at tax sale is due the difference of about $73k which is a $63k PROFIT!

There were court rulings recently requiring auctions like this to refund the overage to the owner which in this case is the person who bought it at the last minute from the heir. 

[Russell R Massey]

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

[Jay Hinrichs]

Quote from @Russell R Massey:

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

this happens all the time with sherrif sales and redemption rights.. its a little cottage industry unto itself.

[Kevin Sobilo]

Quote from @Russell R Massey:

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

Except that the owner cannot buy the property at auction! So, the money laundering scheme falls apart there.

However, as I said an investor could strike an honest deal anticipating that the property will sell for more than the taxes owed and be willing to gamble on that.

If they won't allow the property to be built on because of zoning then the municipality could be forced to pay for it as I said because they have in essence "taken" the property through the zoning ordinance by eliminating any viable use for it. So, they could also force the municipality to pay them some profit that way as well since those sales usually go for more than you might think is market rate.

If there are other small lots around that neighborhood, the zoning board likely will approve some kind of building though.

[Russell R Massey]

Jay - do you mean the money laundering angle or buying property and hoping to get the overage angle?

[Jay Hinrichs]

Quote from @Kevin Sobilo:

Quote from @Russell R Massey:

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

Except that the owner cannot buy the property at auction! So, the money laundering scheme falls apart there.

However, as I said an investor could strike an honest deal anticipating that the property will sell for more than the taxes owed and be willing to gamble on that.

If they won't allow the property to be built on because of zoning then the municipality could be forced to pay for it as I said because they have in essence "taken" the property through the zoning ordinance by eliminating any viable use for it. So, they could also force the municipality to pay them some profit that way as well since those sales usually go for more than you might think is market rate.

If there are other small lots around that neighborhood, the zoning board likely will approve some kind of building though.

they will say you can operate a parking lot there.. plus who is going to spend the thousands upon thousands litigating this with the city ???

[Jay Hinrichs]

Quote from @Russell R Massey:

Jay - do you mean the money laundering angle or buying property and hoping to get the overage angle?

overage

[Kevin Sobilo]

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

Quote from @Russell R Massey:

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

Except that the owner cannot buy the property at auction! So, the money laundering scheme falls apart there.

However, as I said an investor could strike an honest deal anticipating that the property will sell for more than the taxes owed and be willing to gamble on that.

If they won't allow the property to be built on because of zoning then the municipality could be forced to pay for it as I said because they have in essence "taken" the property through the zoning ordinance by eliminating any viable use for it. So, they could also force the municipality to pay them some profit that way as well since those sales usually go for more than you might think is market rate.

If there are other small lots around that neighborhood, the zoning board likely will approve some kind of building though.

they will say you can operate a parking lot there.. plus who is going to spend the thousands upon thousands litigating this with the city ???

I don't know the character of the neighborhood. In an congested area offstreet parking might be needed. In my market there are streets with almost no driveways because lots are only 20-30 feet wide and where there are streets with parking on only one side it gets difficult.

So, in a circumstance like that a small paid parking lot could pay off and be WELCOMED by the municipality.

[Jay Hinrichs]

Quote from @Kevin Sobilo:

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

Quote from @Russell R Massey:

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

Except that the owner cannot buy the property at auction! So, the money laundering scheme falls apart there.

However, as I said an investor could strike an honest deal anticipating that the property will sell for more than the taxes owed and be willing to gamble on that.

If they won't allow the property to be built on because of zoning then the municipality could be forced to pay for it as I said because they have in essence "taken" the property through the zoning ordinance by eliminating any viable use for it. So, they could also force the municipality to pay them some profit that way as well since those sales usually go for more than you might think is market rate.

If there are other small lots around that neighborhood, the zoning board likely will approve some kind of building though.

they will say you can operate a parking lot there.. plus who is going to spend the thousands upon thousands litigating this with the city ???

I don't know the character of the neighborhood. In an congested area offstreet parking might be needed. In my market there are streets with almost no driveways because lots are only 20-30 feet wide and where there are streets with parking on only one side it gets difficult.

So, in a circumstance like that a small paid parking lot could pay off and be WELCOMED by the municipality.

I am an active builder in downtown Charleston SC and talk about small lots and roads only 20 feet wide logistics to build are brutual.. I looked at one lot U could build on it but there is only a 5 foot path to haul material in.. :) and they want 300k for it.. 

[Kevin Sobilo]

I'm in what used to be coal country. Modest houses on small lots. Also a lot of side by side duplexes that are locally called "double blocks". Many of which were probably company built.

So, 100 year old workforce housing on small lots in modest neighborhoods, but once you get used to the small lots its actually not bad at all. 

[Jay Hinrichs]

Quote from @Kevin Sobilo:

I'm in what used to be coal country. Modest houses on small lots. Also a lot of side by side duplexes that are locally called "double blocks". Many of which were probably company built.

So, 100 year old workforce housing on small lots in modest neighborhoods, but once you get used to the small lots its actually not bad at all. 

not to go into the Tulles Kevin but modern zoing is going right back to that kind of product.. CA OR WA have all passed new legilation to allow much smaller lots and developments . In Oregon we call it middle housing.. Now thats all groovy but the market is not liking it.. parking sucks and no yards.. so a few builders I know that did these little developments are not selling well and ( of course that buyer is very interest rate sensitive) so I personally wont do it.. Charleston SC is a very special place in many ways.. we are paying 250 to 500k for 2k to 4k sq ft lots..

[Kevin Sobilo]

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

I'm in what used to be coal country. Modest houses on small lots. Also a lot of side by side duplexes that are locally called "double blocks". Many of which were probably company built.

So, 100 year old workforce housing on small lots in modest neighborhoods, but once you get used to the small lots its actually not bad at all. 

not to go into the Tulles Kevin but modern zoing is going right back to that kind of product.. CA OR WA have all passed new legilation to allow much smaller lots and developments . In Oregon we call it middle housing.. Now thats all groovy but the market is not liking it.. parking sucks and no yards.. so a few builders I know that did these little developments are not selling well and ( of course that buyer is very interest rate sensitive) so I personally wont do it.. Charleston SC is a very special place in many ways.. we are paying 250 to 500k for 2k to 4k sq ft lots..

They will sell and perceptions will change! I grew up where lots were much larger and houses were much larger and it took me a while to adjust.

People are comfortable with what they know. If they grew up on a busy street it wouldn't phase them to buy a house on a busy street.

You can fit a modest but comfortable 3 bedroom 1300 sq ft home on a 30x100 lot with room for a little parking pad next to the house. A lot of houses here on these lots are only 14-16 feet wide. If the house is placed such that the front steps end at the front sidewalk then there is enough room for a modest little back yard to enjoy. Front yards are really for show and don't add to livability. 

[Patrick Roberts]

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

Quote from @Russell R Massey:

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

Except that the owner cannot buy the property at auction! So, the money laundering scheme falls apart there.

However, as I said an investor could strike an honest deal anticipating that the property will sell for more than the taxes owed and be willing to gamble on that.

If they won't allow the property to be built on because of zoning then the municipality could be forced to pay for it as I said because they have in essence "taken" the property through the zoning ordinance by eliminating any viable use for it. So, they could also force the municipality to pay them some profit that way as well since those sales usually go for more than you might think is market rate.

If there are other small lots around that neighborhood, the zoning board likely will approve some kind of building though.

they will say you can operate a parking lot there.. plus who is going to spend the thousands upon thousands litigating this with the city ???

I don't know the character of the neighborhood. In an congested area offstreet parking might be needed. In my market there are streets with almost no driveways because lots are only 20-30 feet wide and where there are streets with parking on only one side it gets difficult.

So, in a circumstance like that a small paid parking lot could pay off and be WELCOMED by the municipality.

I am an active builder in downtown Charleston SC and talk about small lots and roads only 20 feet wide logistics to build are brutual.. I looked at one lot U could build on it but there is only a 5 foot path to haul material in.. :) and they want 300k for it.. 

I feel you on this. I live downtown CHS. Our house sits on a 30x60 lot and is "normal" for our neighborhood. There's currently an infill lot for sale on Catfiddle for $350k and the entire lot is 1,300 sqft.  

[Jay Hinrichs]

Quote from @Patrick Roberts:

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

Quote from @Russell R Massey:

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

Except that the owner cannot buy the property at auction! So, the money laundering scheme falls apart there.

However, as I said an investor could strike an honest deal anticipating that the property will sell for more than the taxes owed and be willing to gamble on that.

If they won't allow the property to be built on because of zoning then the municipality could be forced to pay for it as I said because they have in essence "taken" the property through the zoning ordinance by eliminating any viable use for it. So, they could also force the municipality to pay them some profit that way as well since those sales usually go for more than you might think is market rate.

If there are other small lots around that neighborhood, the zoning board likely will approve some kind of building though.

they will say you can operate a parking lot there.. plus who is going to spend the thousands upon thousands litigating this with the city ???

I don't know the character of the neighborhood. In an congested area offstreet parking might be needed. In my market there are streets with almost no driveways because lots are only 20-30 feet wide and where there are streets with parking on only one side it gets difficult.

So, in a circumstance like that a small paid parking lot could pay off and be WELCOMED by the municipality.

I am an active builder in downtown Charleston SC and talk about small lots and roads only 20 feet wide logistics to build are brutual.. I looked at one lot U could build on it but there is only a 5 foot path to haul material in.. :) and they want 300k for it.. 

I feel you on this. I live downtown CHS. Our house sits on a 30x60 lot and is "normal" for our neighborhood. There's currently an infill lot for sale on Catfiddle for $350k and the entire lot is 1,300 sqft.  

catfiddle is the one I am talking about you simply cannot get materials to that lot without walking them in.. They needed to build that lot first and worked there selves back out . in essence they landlocked themselves. 

[Bruce Lynn]

At almost every sale I go to, when I see strange stuff like this I go ask.  Hey what are you going to do with that lot, or you know it is landlocked, or you know it is unbuildable, or you know that is under water, or whatever?  Then I see what they say.

Normally two circumstances:

1. They have no clue what they bought...they're just thinking, wow I can buy a lot for X. Amazing...I own land now. What they bought was a liability....maybe paying taxes, maybe paying HOA/POA dues, then dividing it between 10 kids when they die, so now really worth nothing, but a headache.

#2.  They know something everyone else doesn't.  Even the smart guys don't know.  As you mentioned often they own the land/house next door.  So it is worth a lot more to them then it is to me.  Maybe they know the city/county is buying right-a-way.  Maybe they know WalMart is buying all the land around it.  Maybe there is lithium or some other mineral under it and someone is out buying all the mineral leases in the area.   Maybe city is getting ready to go crazy on solar and needs a spot for a battery storage area.  Maybe they work for the fiber company and they want to put some kind of utility hub there.   Maybe they own the house behind it and want to put up a garage or driveway access to their backyard.   

I think every single time something sells for 3-4-5x what I was willing to pay and I go ask, they know way more than Mr. Smarty Pants(me), or it makes way more sense to them, and worth way more to them.

Maybe they know if there is civil war gold buried there, and they just haven't had time to dig it up yet?  There's your best answer.  Let me know how I pick up the $50.

People talk about laundering money.  I've modeled it out a couple of times.  Possible, but very hard to do with speed and volume.  Start thinking about what do you do with all the cash if you're flipping it to me for cash.  You buy for $1000, sell to me for $10,000 cash and we self close.  Now I sell for $50,000 thru a title company.  Clean money right?  But now I'm getting check from the title company and have to put that in the bank.  At some point bank has to know their customer and will ask why I get all these $50,000 checks, but no spend.  Title co reports to IRS, and you probably going to hit a snag when all your basis is $0 on every deal and every deal you do has big profits.  Or you just keep self closing and take everything in cash.  Only so much you can buy with cash.  Tough to spend $50,000 or $500,000 on gas and groceries.   Starts to get messy quickly.   Want to store and spend $50,000-$100,000-$1,000,000 in cash every month.  Most of the sales around me don't have that much to buy, so not like you can go every month and buy for cash $1,000,000.  Then if you did, you're often dealing with small town/county sheriff.  They know everybody.  They're going to start asking questions about where you get $1,000,000 in cash every month.  They'll also change they rules because they don't want to mess with, count, hold on to, $1,000,000 in cash, so they'll switch it to cashiers checks.  If you're spending $1,000,000 a month in illegally sourced cash, there is also going to be some fakes in there.  So you keep giving fakes to the sheriff, and you're going to start dealing with Secret Service.  Those guys are smart.  Then everything gets confiscated and you go to jail.  Want to be in jail, when there is $1,000,000 missing from your cartel friends?  That's what gets people killed.

https://www.nbcdfw.com/news/local/mexican-cartel-leader-link...

[Patrick Roberts]

Quote from @Jay Hinrichs:

Quote from @Patrick Roberts:

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

Quote from @Jay Hinrichs:

Quote from @Kevin Sobilo:

Quote from @Russell R Massey:

To be clear. The property is not worth more than maybe $5k and really nothing because unbuildable. 

Kevin - I was just thinking a bit along those lines. That sounds like a good way to launder money. Find anyone really to sign a quit claim or make them up, have it notarized (the notary's name is not on the GA notary list by the way), and then buy a property for $90k, you take a $8k hit on the fees, then you get back the overage paid to you by the city. 
Washed clean.   

Except that the owner cannot buy the property at auction! So, the money laundering scheme falls apart there.

However, as I said an investor could strike an honest deal anticipating that the property will sell for more than the taxes owed and be willing to gamble on that.

If they won't allow the property to be built on because of zoning then the municipality could be forced to pay for it as I said because they have in essence "taken" the property through the zoning ordinance by eliminating any viable use for it. So, they could also force the municipality to pay them some profit that way as well since those sales usually go for more than you might think is market rate.

If there are other small lots around that neighborhood, the zoning board likely will approve some kind of building though.

they will say you can operate a parking lot there.. plus who is going to spend the thousands upon thousands litigating this with the city ???

I don't know the character of the neighborhood. In an congested area offstreet parking might be needed. In my market there are streets with almost no driveways because lots are only 20-30 feet wide and where there are streets with parking on only one side it gets difficult.

So, in a circumstance like that a small paid parking lot could pay off and be WELCOMED by the municipality.

I am an active builder in downtown Charleston SC and talk about small lots and roads only 20 feet wide logistics to build are brutual.. I looked at one lot U could build on it but there is only a 5 foot path to haul material in.. :) and they want 300k for it.. 

I feel you on this. I live downtown CHS. Our house sits on a 30x60 lot and is "normal" for our neighborhood. There's currently an infill lot for sale on Catfiddle for $350k and the entire lot is 1,300 sqft.  

catfiddle is the one I am talking about you simply cannot get materials to that lot without walking them in.. They needed to build that lot first and worked there selves back out . in essence they landlocked themselves. 

 Yeah I was curious and looked at it a while back as I live not far from it. It would probably be cheaper to have materials dropped on the lot from above by a CH53 than to have them carried in lol.

[James Hamling]

Quote from @Bruce Lynn:

At almost every sale I go to, when I see strange stuff like this I go ask.  Hey what are you going to do with that lot, or you know it is landlocked, or you know it is unbuildable, or you know that is under water, or whatever?  Then I see what they say.

Normally two circumstances:

1. They have no clue what they bought...they're just thinking, wow I can buy a lot for X. Amazing...I own land now. What they bought was a liability....maybe paying taxes, maybe paying HOA/POA dues, then dividing it between 10 kids when they die, so now really worth nothing, but a headache.

#2.  They know something everyone else doesn't.  Even the smart guys don't know.  As you mentioned often they own the land/house next door.  So it is worth a lot more to them then it is to me.  Maybe they know the city/county is buying right-a-way.  Maybe they know WalMart is buying all the land around it.  Maybe there is lithium or some other mineral under it and someone is out buying all the mineral leases in the area.   Maybe city is getting ready to go crazy on solar and needs a spot for a battery storage area.  Maybe they work for the fiber company and they want to put some kind of utility hub there.   Maybe they own the house behind it and want to put up a garage or driveway access to their backyard.   

I think every single time something sells for 3-4-5x what I was willing to pay and I go ask, they know way more than Mr. Smarty Pants(me), or it makes way more sense to them, and worth way more to them.

Maybe they know if there is civil war gold buried there, and they just haven't had time to dig it up yet?  There's your best answer.  Let me know how I pick up the $50.

People talk about laundering money.  I've modeled it out a couple of times.  Possible, but very hard to do with speed and volume.  Start thinking about what do you do with all the cash if you're flipping it to me for cash.  You buy for $1000, sell to me for $10,000 cash and we self close.  Now I sell for $50,000 thru a title company.  Clean money right?  But now I'm getting check from the title company and have to put that in the bank.  At some point bank has to know their customer and will ask why I get all these $50,000 checks, but no spend.  Title co reports to IRS, and you probably going to hit a snag when all your basis is $0 on every deal and every deal you do has big profits.  Or you just keep self closing and take everything in cash.  Only so much you can buy with cash.  Tough to spend $50,000 or $500,000 on gas and groceries.   Starts to get messy quickly.   Want to store and spend $50,000-$100,000-$1,000,000 in cash every month.  Most of the sales around me don't have that much to buy, so not like you can go every month and buy for cash $1,000,000.  Then if you did, you're often dealing with small town/county sheriff.  They know everybody.  They're going to start asking questions about where you get $1,000,000 in cash every month.  They'll also change they rules because they don't want to mess with, count, hold on to, $1,000,000 in cash, so they'll switch it to cashiers checks.  If you're spending $1,000,000 a month in illegally sourced cash, there is also going to be some fakes in there.  So you keep giving fakes to the sheriff, and you're going to start dealing with Secret Service.  Those guys are smart.  Then everything gets confiscated and you go to jail.  Want to be in jail, when there is $1,000,000 missing from your cartel friends?  That's what gets people killed.

https://www.nbcdfw.com/news/local/mexican-cartel-leader-link...

Everyone knows, if ya-gonna clean some $$$$, casino.

Let em know Jimmy the Greek sent ya...... 

[Bruce Lynn]

Quote from @Russell R Massey:

Atlanta.

Who won the $50 Amazon Card?

[Simba Kiraffi]

I would honestly check the Master Plan held with the city or county that should give you an idea of what the future use could be. also check to see if they got mineral rights as well there may be something in the area that you are unaware of. I don't know all the areas of real-estate you operate in or what strategies you use. but something tells me they are either an idiot or they may know something you do not about that property and either its past or its future. most likely there is something coming down the pike in about 3-5 years. just my thoughts.