Hi Jill and Steve,
Following your letter, I put in the offer that I would pay back taxes within reason. Does $132 in back taxes on an offer of $500 sound reasonable?
I think the 5 acres should sell wholesale for about $1,100 to $1,200.
If you purchase properties that have associated back taxes, are you guys finding that you have better luck selling them if you pay off all of the back taxes or just include that in your listing and let the buyer deal with it.
I understand that this is a personal preference but I was just curious about what kind of response you guys are getting for the ones with back taxes.
Hi Josh, I have been paying the back taxes; it just seems like a good thing to do.But I’m still pretty new at all of this and in many cases it may not be necessary. Either way I think the important point is to figure those taxes into your acquisition cost since you may need to adjust the selling price of the land if the buyer is going to catch up the taxes.