Updated over 6 years ago on . Most recent reply
Wholesaling tax delinquent properties
When it comes to wholesaling tax delinquent properties how does the transaction work, if I’m correct I know that nothing can be done until the back taxes are paid. For example let’s say I get a property under contract and the seller owes 10,000 in back taxes , they sell it to me for 30,000 and I put it under contract for 60,000.
60,000 ( selling it to my buyer)
-30,000( what the seller sold it to me for)
30,000( assignment fee taxes included taxes)
10,000( back taxes owed)
————
20,000 (what I make after taxes are paid)
My question is where in this process do the taxes get paid , will the tittle couple take the 10,000 out and send it directly to the taxes accessor ?