Beth:
Hi, I’m Beth with TB Properties Buys Land. Today we will cover a case study in which we purchased a piece of property from a young lady here in Texas and how that worked out for her. To begin, this piece of property was family-owned property that she inherited from her mother. Her mother had several liens against the property. On top of these liens, there were property taxes that were piling up. To be clear, in some parts of the country, your property taxes might be low, maybe only $20 or so a year. Here in Texas, they are not very cheap at all so she had a substantial amount of debt that she had been paying off every year with regard to these liens as well as the property back taxes. Finally she just got to a point where she couldn’t do it anymore. It was interfering with her life and she knew she was going to lose the land if she didn’t do something.
To compound this, she was not able to sell the property because of the liens against the property. This was such an issue for her but she received a letter in the mail from us offering to purchase her property. Understandably, when she talked to us, she was desperate because she needed to sell this property and she didn’t have the funds to cover the liens and taxes. She needed to stop all these charges that were just draining her bank account and be done with it. Her mother’s legacy was really wearing on her. That’s not how you want to remember your mother, right? In any case, she reached out to us and we looked at her property. After doing some digging on it we were able to make an offer on it which included that in the payoff of the property, we’d be able to cover those property taxes that had piled up. This meant she didn’t have to drain her bank account to finish off paying those property taxes in order to sell it or list with a realtor. We were able to do that in the closing process.
This was such a success story for her because she went from nearly losing the land after paying down the liens and back taxes over so many years to receiving a substantial check from the title company for the sale of her mother’s land.
It was such a relief to her to know that the property was finally going to be sold. She didn’t have to take care of any more payments, she didn’t have to worry about draining her bank account. On top of that, it was putting money into her account that was much needed for her family. This was such a great story that I wanted to share it with you. Not everybody has those issues, but sometimes the inherited land can be tricky and it can be draining. Sometimes there’s lien, sometimes there are back taxes when it comes to property taxes, and it’s hard to be able to list your property with a realtor if you owe money on it. Often, the realtors don’t want to work with you if that is the case. Not all real estate investors are same, but working with a real estate investor like TB Properties Buys Land, these are things that we work through on a regular basis and that we’re familiar with.
We’re happy to talk to you more about these types of situations and walk you through it if you need. We always close through a title company for your safety. If you have inherited property, oftentimes there may be a cloud that you title. Perhaps there are other errors that need to be worked through. Title companies can help with that and we know how to navigate these types of situations. Title also provides safety and security for you. You know that you’re going to get paid by the title company and that the paperwork is going to be done correctly. That’s really important. Since we pay the title company in cash, we’re able to close quickly which means you’re able to get paid quickly, and that is a great, great thing. If you have any questions about selling your bare land to a real estate investor, please don’t hesitate to reach out to us. We’re happy to take a look at your property and make you a cash offer. We cover all the closing costs, so you know exactly what you’re going to get. Reach out to us. We look forward to hearing from you. Thanks again.