Offlinehi everybody i was wondering if anybody had any ideas on how i could set up this asignment deal well its this house in a nice neighborhood market value 140,000 the guy that owns it only wants 3000 for it along with 27,000 back taxes paid off and also the violations paid theres two it needs new windows and a garage around 10000 wroth of work so its a 140000 house for around 37,000 i think it is a good deal but i dont know im suppose to talk to the agent soon i need some help on this one thanks in advance
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That's $40k including the $3k right? You shouldn't have trouble assigning it for that price.
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
What i would be cautious about is, being able to pass clear title, meaning, you better make sure you do your "Due Diligence" on this property THOROUGHLY, their could be other judgments on this property that he's not telling you about, SULLY.
YOUR HERO, SULLY
I would definitely agree with Sully on that.
$27,000 in back taxes?! Wow. That must be like 7years or more behind!(and what type of violations do you mean?) If it's listed with a realtor, I'm guessing they'll have all the info, but be very careful of hidden costs. Title search for sure, and talk to the treasurer's office.
It sounds like an AWESOME deal if all the numbers are correct.
Do you have buyers lined up to assign it to?
Definitely move forward on this unless you come across red flags.
Just my opinion.
Rina
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Ok sorry it took me a minute to respo nd, I just got your PM today.
First of all I agree with theabove Rina and Sully. 27K in back taxes could mean that at some point it was or is AIRE PROPERTY, and if that was the case you need to make darn sure you clear title before acting on this one. If you have a good feeling about it, lock it up by dropping a few hundred in earnest money and making it a 45 day escrow, and contingent upon inspection (which you can use a friend that knows construction if you have or) and agreement by your partner (which you dont really have but this gives you an escape without penalty if your partner says "NO")
I hope that helped.
Anita
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thats righ 40k including the 3k and by the way thanks for the help on this one bye and have a great day
THANK YOU AS WELL FOR THE INFO IM GOING TO DO EXACTLY LIKE YOU SAID BYE AND HAVE A GOOD ONE
YEAH THE OWNER OWES 24,000 REALLY IN BACK TAXES THEY HAVE NOT PAID SINCE 2002 I CHECKED WITH THE TREASURER'S OFFICE BUT THE OWNER SAID HE ONLY WANTED 3000 ON TOP OF THE BACK TAXES AND VIOLATIONS PAID OFF BUT THE AGENT WHO I TALKED TO YESTERDAY SAID IT'S LISTED FOR 49,900 IM SUPOSE TO LOOK AT THE HOUSE TODAY OR TOMMORROW BUT THE VIOLATIONS ARE A FEW BROKEN WINDOWS AND IT NEEDS A GARAGE BUILT IM GOING TO DO A TITLE SEARCH LIKE SULLY SAID AND THEN I GUESS MAKE AN OFFER ON IT IF I THINK IT'S WORTH IT BUT I HAVE A FEW BUYERS LINED UP ALREADY BUT I WAS THINKING OF PAYING SOME EARNEST MONEY ON IT THEN SET IT UP WITH ME PAYING THE TAXES AND VIOLATIONS WHEN I GET THE HOUSE WITH THE 3000 FOR THE OWNER AND THEN ASSIGN IT OVER WHAT DO YOU THINK ABOUT THAT AND BY THE WAY THANKS FOR THE HELP BYE AND HAVE A GREAT DAY
thanks for all the info and taking the time to reply i got one more question what is aire property if you could explain it to me it wolud be great and thanks again