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  • #731

    Kevin Rhatigan
    Participant
    Post count: 107

    @stevenbutala
    @jilldewit
    @luketsmith
    @mikedugan
    @claire

    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.

Viewing 4 replies - 1 through 4 (of 4 total)
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  • Jill DeWit
    Participant
    Post count: 439
    ProAdvancedStaffPrincipal

    This is one of those “your call” deals. Sounds like you are busy with great acquisitions opportunities!

    Josh George
    Participant
    Post count: 42
    Pro

    @kevinrhatigan
    @jilldewit
    @admin
    @luketsmith
    @mikedugan
    @claire

    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.

    Thanks.

    Kevin Rhatigan
    Participant
    Post count: 107
    Pro

    @joshgeorge

    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.

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    Have tried both. When you pay off the taxes there are a lot less questions. When you leave them out there is is just hand holding. “How do I pay the taxes” “Who” “etc”

    I leave them unpaid until the land sells then pay them about the same time you transfer it to them.

    Lot less risky to put the payment off. Less money at risk.

Viewing 4 replies - 1 through 4 (of 4 total)

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