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Updated over 10 years ago on . Most recent reply

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Courtney Rucker
  • Philadelphia, PA
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Wholesale Deal with Back Taxes and Seller Financing

Courtney Rucker
  • Philadelphia, PA
Posted

So I have a property under contract that has $15,000 in back taxes. Buyer made a offer that included seller financing in order to have cash flow for property repairs. Buyer also agrees to assume back taxes. My seller has a agreed to these terms. How should I proceed with this deal

Selling Price $24,000

Due at close $12,000

Financing $12,000 over 8 months

Assignment Fee $4,000

My question is how to structure this deal so that the seller is protected with the financing, yet still transferring tax responsibilities over to buyer

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