Thursday, August 19, 2010

Property for sale on the market, due to property tax lien?

can some one please help me with this information. I was searching the web for homes for sale, and came across a home that was placed up for sale due to property tax lien. It has a property tax lien of over $4,000 on it. I would like to know what this means, and how it works when they are selling it due to tax lien. I like the area in which the home located on. I yet have not seen the home, but it is in a hillside and beautiful view of mountains. can some help provide me with any information on tax lien homes Property for sale on the market, due to property tax lien?
Specifically they have not paid the property taxes and the county wants their money. What you have to watch for on these types of sales is to make sure there are not any other liens, i.e., tax liens or personal judgments. These are not wiped out on a tax sale the way it is on a foreclosure. Do a title search on the property. The State you live in determines how long before a tax deed can be granted. Check it out.Property for sale on the market, due to property tax lien?
It means there are $4000 worth of unpaid property taxes on that parcel. In order to purchase the house, that lien must be settled, which means someone needs to either pay the $4000, or negotiate a discounted buy off amount (which is usually possible with tax liens).





You'll still pay fair market price for the house. It doesn't mean the house is for sale for $4000.
From what I've seen, they can do it a couple of ways. They auction it off, with a reserve bid that equals what is owed on the back taxes. Or they can also do a silent bid, where people place their bids and the highest bidder wins.
Different States have different procedures. Check with a realtor .Usually you can get a very good deal on a home.Do not wait to call and find out.
It means if you want to buy the home and get clear title, the property tax will have to be paid from the sale proceeds.
I do not know.Never owned property.

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