Saw an ad - houses for sale - pay the defaulted tax - ?legal?

Answer 1

If this is a tax foreclosure, by a city government, this would be legal. But when you're invoved in anything of this sort, check with a lawyer or a realtor to make sure all the paperwork is properly done.
Be a little wary about any foreclosure, as people who are unable to pay taxes are often not able (or unwilling) to do maintenance and repairs, so get someone in to check the place before you purchase. If it is a foreclosure because the owner has died, or there is a dispute between the owners, you may get a really good deal. Sometimes a home that is up for defaulted tax sale is worth it if only for the price of the land. But in any case, get some expert advice from someone who knows the real estate in your area.

Answer 2

You usually have to pay a lot more than just the amount of defaulted taxes. Call your local property tax office and ask them what the procedure is. Properties that are in tax arrears often go up for public auction.

PS- I would not respond to an ad that asks for money to get information on this. Your local town or city hall will be the best source of information on how to go about buying defaulted properties.

Answer 3

well you might bite off more than you can chew. if a person has not paid the property tax, they more than likely have judgements and other liens against the property. It would be very wise to run a title search on the property. The IRS, the state and court judgements could all be owed in addition to back property taxes.

Answer 4

Probably but be very careful as to where this property is located. If it is down in the hood on a corner between 2 rival gangs there is no one who will want to live there. In other words the property has no value and probably will never develop enough for you to get your money back out of it.

Answer 5

I agree with old lady but one moer thing, DO NOT PUT OUT A CENT UNTIL YOU HAVE A SIGNED CONTRACT OF SALE OR ARE IN TITLE.