How do I find out where I can buy a house for what is owed in property taxes?
I heard u can buy house for what people owe on there property taxes. Is it true and where do I go to find the houses?
Public Comments
- You will not find a house to purchase for what is owed on property taxes. Most likely the home is still mortgaged and the bank will maintain ownership after default. No person in their right mind that actually owns their home free and clear, would ever let it go because of unpaid property taxes. If anyone is telling you that you can purchase a home like this, and is requiring any money from you, it is a total scam.
- Yes, it is true. There may be some variance by state. In most state though you can go to your county courthouse. The sheriff's office will be the most likely place. The next most likely place would be the county tax assessment office. That should also be in the county courthouse. Be careful if you do this. If a house looks promising, have the deed checked to be sure that there are no liens against the property. If you by a house with an existing lien, you will be responsible (in most states) for paying off that lien.
- Yes, you can buy homes that have been taken by the government for back property taxes. Each state and county may have different regulations. For example, Florida is a tax lien state: you buy tax liens, and the owner has a certain period of time to pay the back taxes with interest, and if they don't pay it, you get rights to the property. NY auctions tax foreclosures. The problem with tax foreclosures is there are so many different methods of dealing with the problem of unpaid property taxes. You have to study your local market -- learn your state's laws, your county's auction schedule or whatever. By the time the state/county/city foreclose on property for back taxes, the property has often fallen into disrepair. Many are older properties whose elderly owners cannot keep up tax payments on their pathetic Social Security benes. Maintenance was passed over before ever going into default on taxes. Plan on anything you find to be in need in extensive repairs and rehab, and often insoluble problems like landlocked parcels the prior owner(s) could never fix. I have found parcels for under $100, but what good is it if there is no way to access the property but helicopter, and 3 prior owners have gone bankrupt trying to get an easement?
- any property that is being auctioned off will be listed in your local newspaper in the legal notices section. it will show the parcel no. the name of the owners, the amount owed and the date,time and place of the auction. you will probably have to pay cash and chances are the property has been trashed or abandoned for a while. there are no warranty's the place is sold as is. a condition of the sale might be you have to sign a paper saying you will bring everything up to codes if you buy it. you can probably see a list of whats up for auction at the county assessors office also.
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