Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

5
Posts
0
Votes
Joseph Toni
0
Votes |
5
Posts

Solutions that the seller can take to avoid a tax foreclosure

Joseph Toni
Posted

Hey guys, this will be my first wholesaling deal. I am literally in a sticky situation with the seller because she owes some back taxes on her property. The thing is, she has until the 2nd of July to pay her back taxes, and if she is unable to pay by July 2nd, she will have to file for tax bankruptcy. I was wondering if you guys have any solutions to avoid the mess of having her file for tax bankruptcy? By the way, she owes $16,000 in back taxes.

Also, the seller wants me to set the closing date on the contract to June 28th instead of our original closing date, which was August 17th, because she wants to receive the money in a timely manner to pay her back taxes. Another thing she told me was that she would like to stay an extra 30 days after the closing date, meaning that she would like to move out on the 28th of July.

Any thoughts and suggestions as I navigate what seems to be an obstacle as a new wholesaler?

Loading replies...