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back taxes and such

by foreclosureuniversity ⌂ @, Monday, June 27, 2005, 22:18 (5193 days ago) @ lonniewa

I was just wondering how do you handle back taxes> In WA. state this can
get really expensive. You did not address the back taxes on your hud-1 in
your course.

I also would like to know how would you handle the transfer tax if it was
1.78% of the sale> Median home prices in my area is a little over 200k. So
that is 3500.

What happens if the deal falls through> If I cannot get a buyer fast
enough to do a double close what escrow and closing fee I will be
responsibel for up to that point If I am not able to buy>

Lonnie Turner


If you can't find a buyer in time you lose nothing. You pay nothing. The only thing you've lost is your time. So you have to make a decision. Let it go to auction. Or get some private funding if it's worth it and buy it yourself. Just make sure your profits out-weigh any costs you will incur. Also, the lender just wants to know how much they will net from the deal. Do not try to make them pay closing costs.

--
Good Luck
ForeclosureUniversity.com


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