Has anyone ever messed with one? Do you bid or just submit the # for back taxes? What is the end result if you are successful with your bid? Do you then own the property? Thanks, I don't know about this. At. All.
Consult your attorney before getting involved . Every area is probably different. I know here you get a deed free and clear of all liens. That may not be the case everywhere. I know some properties here after auction go 3 years and are right back up for auction again. Sometimes because of unforeseen zoning restrictions or someone who got a cheap property at auction but couldn't afford the taxes. Wetlands can also become an issue.
I bought a piece of property on which the taxes hadn't been paid in 15 years. The individual had owned the land for 24 years. It was just raw land. The town didn't have it in the budget to foreclose on the property like they wanted to to add it to their open space. I offered he owner the amount he had originally paid in the 80's plus the amount needed to pay back taxes and real estate fees. In my offer I pointed out that the town could foreclose on the property any day and at least in accepting my offer he got his money back from the original purchase (albeit with far less purchasing power). He accepted my offer, the back taxes were calculated and paid from escrow and I got the deed... It might be worthwhile contacting the tax collectors in an area where you want to buy and find out what properties are delinquent. You can get an idea of how long they let 'em go before sale and try to work directly with the delinquent owner for a sale before auction... To reiterate what JustWood said, talk to an attorney... This site isn't the best but it can get you started in a search.. Public Notices
I do tax lines here.. I an not an attorney! but have been doing it successfully for 2o years... each state is different.. the base here towns pay the the school and teacher's with a budget if property taxes are not paid the town has to borrow therefore the state of Vermont gives Town the right to put a tax lien on a property if the tax lien is not paid within one year you own the property you get a lien certificate for the property What really happens you get paid 1% per month or any part thereof until your monies are returned most people end up doing this right before you get the property I have put hundreds of liens on properties and I've never gotten the property but I have always gotten my 1% per month or 12% a year return plus my original investment back Rules I go by I do not do trailers in a park ...mI do not do unimproved land... the only lean that is superior to a tax lien is a federal government or state government lean and that is if and only if those leaves were in place before the tax lien all done in a self directed 401k most of the time a bank has a motgage and the are not losing their 150k mtg for your 10k tax lien they send you a check
My neighbor did that up here with the adjoining property/house. I don't know the details but she paid the back taxes and has the deed. Also, the assessor up here as well as Larimer County in colorado both have nice online access, it shows if recent taxes were paid or not.
How was your auction? Somewhat the same situation happened to my cousin. He owned some property and was facing some tax issue. One of my relative recommended him to consult an attorney so that he takes the right steps and is not involved in any legal complication in the future. To hire one he visited many helpful sites and researched on the social media. I just hope everything happens without any problem.