“It’s Your Money”

Posted July 31st, 2007 by Joe Kaiser

A clerk from the treasurer's office or even the treasurer himself will call Jim and say, "the law says it's YOUR money."

Dear Rob,

I’ve decided to let Jim’s property go to the Pierce County tax sale.

So, on December 1, 2007, I’ll be working an overage play on that thing.

But, you don’t need to worry because I already mentioned it to Jim back when I was negotiating with him on the telephone and he said whatever I did after I bought it was my call.

Do you see how that works?

done deal

Having already bought the property from him, I now own all rights to it. And that includes 100% of his right to claim any future overage that’s created at the sale.

We completed our deal with him getting paid in full and me getting ownership of the property.

And you probably noticed from the video I posted earlier, I didn’t even negotiate with him. He asked for $10k and I paid him $10k.

That’s a done deal, my friend.

my call

And now that I own it, I’ve decided to let it go to sale.

In fact, I drove out and took a look at it last week to see exactly what Bobo and I bought.

What did I find?

A perfect overage play opportunity. And since I and I alone am entitled to decide what to do with the property, off to the sale it goes.

Wonder how it’ll turn out?

rolling the dice

It’s a little dicey, to be sure.

The property is right on the river and ideal for someone looking for a place to fish or pitch a tent. But I’m not sure if it’s buildable or what access is like.

So, if there are no bidders and I just let it go to the county, I’ve lost $10k.

Of course, if at least a couple people decide it’s a property they like, and if they go toe-to-toe and a bidding war ensues, I could hit pay dirt.

It’s assessed at $44,400.00, so a bidding war is possible, but you just never know.

100% in compliance

And Jim?

Should overage be created, I’ll get together with Jim and, using his power of attorney, I’ll claim any overage as my own. We’re stuck with the POA because of the silly law I’ve been discussing of late, but it’ll work just fine.

That way, Pierce County can be 100% in compliance with the law and I can get the money that’s mine.

And I’m guessing Jim will have no problem helping me out here. I’ll even offer to pay him a few bucks for his troubles.

Or, we may just partner up, hire an attorney, and let him collect the overage and split it up as we direct. We did a bunch of those last year and except for one attorney who had trouble with the math, it worked out just fine.

just try me

Of course, I expect there will be the usual problems and Jim will get “the call.”

What’s the call?

It’s the telephone call someone from the county will make to Jim, telling him he’s been scammed. A clerk from the treasurer’s office or even the treasurer himself will call Jim about the overage and say, “the law says it’s YOUR money.”

And then what?

I will so sue their asses off.


Joe Kaiser

2 Responses to: ““It’s Your Money””

  1. Davido responds:
    Posted: August 1st, 2007 at 11:08 am

    “I will so sue their asses off.”? I heartily empathize with that sentiment but don’t think I’d write it out in a forum designed to be “friendly”. Not all true statements are helpful or necessary.

  2. Joe Kaiser responds:
    Posted: August 1st, 2007 at 1:00 pm


    I have no such agenda.

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