You are Dedicated to Listen on Xmas (LA 880)

Transcript:

Steven Butala:                   Steve and Jill here.

Jill DeWit:                            Hello.

Steven Butala:                   Welcome to The Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:                            And I'm Jill DeWit broadcasting from sunny Southern California on Christmas Day.

Steven Butala:                   What's wrong, or what's right?

Jill DeWit:                            What's right?

Steven Butala:                   That someone's listening to this on Christmas Day.

Jill DeWit:                            It's-

Steven Butala:                   What's wrong that we're-

Jill DeWit:                            Maybe you're right.

Steven Butala:                   Recording it.

Jill DeWit:                            Oh, it's a good thing.

Steven Butala:                   It's the greatest thing that ever was. You must be dedicated. Today's topic Jill and I talk about, you must be dedicated if you're listening on Christmas Day.

Jill DeWit:                            Yep, right.

Steven Butala:                   Before we get into it, let's take a question posted by one of our members on LandInvestors.com online community, it's free.

Jill DeWit:                            Okay. [Shabato] asks, "I spoke with a seller in Colorado who returned a signed offer. When I was able to get the person on the phone the next day, he said that he had some back taxes, but that he had already paid them off the day before. When I spoke to the county I learned that the county sold the tax lien and that my seller had come in earlier and paid it off. I got the seller to scan and email a copy of the receipt, and what he sent does show the tax lien certificate had been redeemed. On the same sheet of paper there was a notice to the company that bought that lien to surrender their certificate so they could collect their money. I guess my question is, is it safe for me to purchase this property at this point? Is there a reason for me to wait or any other concern I should be aware of?" This is a good situation.

Steven Butala:                   This is a great question.

Jill DeWit:                            Yeah.

Steven Butala:                   If everything's true that you said in general, there's no reason to wait.

Jill DeWit:                            Yeah.

Steven Butala:                   You can prepare the deed and send it just like we teach in Land Academy 1.0. But beware of this, when back taxes get this far back and there's tax liens, there's on for every year. You may have a certificate sitting there saying that 2014 tax lien was paid off. Oh, yippee ki-yay, I'm in the clear. Well, with their 2013, 2012, and 2010 you gotta check.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   Colorado is very high tech in general, even the rural counties. You should be able to check online very quickly and see if all the tax liens have been paid off, or if you call the treasurer and say, "Look, I've got a receipt for 2000 and X," 2015 let's say it is, "Can you check to see if there's any other back tax liens associated with the property on any different year?" One of our members who's very successful, Luke Smith, just ran into this. He bought a property, had a certificate just like this, resold the property. This is in the 100s of thousands of dollars now, and found out later that there was a $30000 tax lien that's was 8 years before that. You have to check to make sure that is all okay. But I think in general, this is probably okay.

Jill DeWit:                            Mm-hmm (affirmative).

Steven Butala:                   I think this is just a situation where maybe you just hit the guy at the right time and -

Jill DeWit:                            That's what it sounds like. I'm hoping it was just the one, and he got your offer and was all excited like,