Properties with a Purpose

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Frequently Asked Questions

General Questions

1. How is Properties with a Purpose different from other property buyers?

We approach every situation with the same care and attention I used in my 35-year healthcare career. Unlike companies that use high-pressure tactics or make unrealistic promises, we take time to understand your unique situation and present all viable options, not just our offer. We believe in complete transparency, fair dealing, and giving you the time and space to make informed decisions. Our goal is to achieve your best outcome, not just make a sale.

We typically provide initial assessments within 24 hours of receiving your request. For a formal written offer, we usually require 2-3 days to thoroughly research your property, identify any liens or issues, and ensure our offer is fair and accurate. If your situation is urgent, we can often move faster, sometimes providing offers within 24-48 hours when time is critical.

No, we never charge upfront fees for consultations, property evaluations, or exploring your options. We only get paid when and if we purchase your property or successfully help you with a solution. There are no hidden costs, evaluation fees, or consultation charges. Our compensation comes from the transaction itself, so we’re only successful when you are.

We’re based in Jenks, Oklahoma, and primarily serve the greater Tulsa metropolitan area including Jenks, Tulsa, Bixby, Broken Arrow, Sand Springs, Owasso, Glenpool, and surrounding communities. We also have experience with inherited properties in other Oklahoma cities and can sometimes help with out-of-state properties, particularly inherited properties where the owner lives elsewhere.

That’s fine and actually quite common. We never pressure anyone to make quick decisions. Take all the time you need to consider your options, discuss with family members, or consult with other professionals. We’ll be here when you’re ready, and our offer won’t disappear; you have time to think. Many of our best relationships have started with clients who initially just wanted to understand their options.

Foreclosure Solutions FAQs

1. How late in the foreclosure process can you still help?

We can often help even after foreclosure proceedings have officially started, as long as the property hasn’t been sold at auction yet. The key is timing – the earlier you contact us, the more options we have available. Even if you’ve received a Notice of Default or other foreclosure notices, there’s usually still time to explore alternatives. We’ve successfully helped homeowners just weeks before scheduled foreclosure auctions.

If we can close before the foreclosure is completed, then yes – the foreclosure won’t appear on your credit report because your mortgage will be paid off through our purchase. However, any missed payments that occurred before the sale may still appear on your credit report. The key is acting quickly enough to pay off the mortgage before the foreclosure process is finalized.

This situation, referred to as being “underwater” or “upside down,” is more common than you might think. We have experience working with lenders on short sales, where the lender agrees to accept less than the full mortgage balance. We can often negotiate with your lender on your behalf to find a solution that works for everyone. In some cases, we can structure deals that satisfy the lender while protecting you from additional liability.

Yes, we often have different relationships and approaches that can work even when homeowners have been unsuccessful working directly with their lenders. Sometimes, lenders are more willing to work with experienced buyers who can close quickly and provide a guarantee for the transaction. We can also explore alternatives, such as a deed-in-lieu of foreclosure, which may be better for your credit than a completed foreclosure.

Our typical closing timeframe is 2-3 weeks; however, we can often expedite the process in urgent foreclosure situations. We’ve closed transactions in as little as 7-10 days when necessary to stop foreclosure proceedings. The exact timeline depends on factors like title issues, lender cooperation, and whether all parties are motivated to move quickly. We’ll provide you with a realistic timeline tailored to your specific situation.

Tax Lien Solutions FAQs

1. What types of tax liens can you help resolve?

We have experience with various types of tax liens including property tax liens, IRS liens, state tax liens, and municipal liens for unpaid utilities or special assessments. Each type of lien has different rules and redemption periods, so we research the specific requirements for your situation. Whether it’s one lien or multiple liens from different authorities, we can usually find a way to resolve the situation.

Yes, in many cases we can still help even after a tax sale has been scheduled. The key is acting immediately – every day counts at this stage. We can often work with tax authorities to postpone sales or arrange for immediate payment of liens through our purchase of your property. However, the closer we get to the sale date, the fewer options will be available, so it’s crucial to contact us as soon as possible.

Multiple liens can be complex, but they are not impossible to resolve. We have experience coordinating with county tax collectors, city authorities, school districts, and other taxing entities simultaneously. We’ll research all liens, calculate total amounts owed, including interest and penalties, and work with each agency to resolve their specific requirements. Sometimes we can negotiate reduced amounts or payment plans that work for everyone.

If we purchase your property, the sale proceeds will be used to satisfy all liens and mortgages first. If there’s money left over after paying all debts, you receive the remainder. If the liens exceed the property value, you typically won’t owe additional money after the sale, but this depends on the specific type of liens and local laws. We’ll explain exactly what you can expect in your specific situation.

Tax lien interest rates vary by jurisdiction but are often quite high – typically 8-18% annually, plus penalties that can add 10-25% or more to the original debt. These costs compound over time, so a $5,000 tax bill can quickly become $8,000-10,000 or more. The exact costs depend on how long the taxes have been unpaid, the specific jurisdiction’s rules, and what type of taxes are involved. We’ll calculate the exact amounts for your situation.

Inherited Property Solutions FAQs

1. Can you help if multiple family members inherited the property together?

Yes, we regularly work with multiple heirs and understand the complexities that come with it. We can work with all parties to reach a consensus on selling the property, handle the additional paperwork required for multiple-party sales, and ensure that everyone receives their appropriate share of the proceeds. We’re experienced in navigating family dynamics and can often help families reach decisions that work for everyone.

We have extensive experience with probate sales and are well-versed in the legal requirements involved. We can work within the probate process, coordinate with your probate attorney, and handle the additional court approvals that may be required. Probate sales often take longer than regular sales, but we’re patient and will work within whatever timeline the court requires.

Tax implications of inherited property sales can be complex and depend on factors like how long you’ve owned the property, its value when inherited versus sale price, and whether it was your primary residence. Generally, inherited properties receive a “stepped-up basis” that can minimize capital gains, but you should consult with a tax professional for advice specific to your situation. We can refer you to qualified tax advisors if needed.

We buy properties in any condition and can handle tenant situations professionally and legally. If there are tenants, we’ll work with them according to local landlord-tenant laws and ensure proper notice periods are followed. For properties needing major repairs, you don’t have to spend any money on improvements – we buy properties “as-is” and handle all necessary work after closing.

Yes, we have successfully handled inherited properties in other states, particularly when the heir lives in Oklahoma or nearby states. We can coordinate with local attorneys and title companies in the property’s location, handle much of the process remotely, and minimize the number of trips you need to make. Each state has different laws regarding inherited property, so we research the specific requirements for your situation.

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