2006-07-06 09:19:01 · 8 answers · asked by Anonymous in Business & Finance ➔ Investing
Tax and other liens ought to be filed with the county. But in my experience, these are the least of your worries. The other things that I (or someone I know) has encountered include:
1. Code Enforcement issues. The city, if it is a crazed bureaucracy, can cause you unending problems.
2. Environmental hazards: like an old gas tank that used to be in the ground....cleanup will be required, and can be quite expensive.
3. Crime/neighbors: These are issues that you just can't get away from, no matter what you do about it.
4. Structural issues. It's easy enough to redo the flush valve in the toilet, but if your foundation is unstable, that's a big issue to resolve.
5. Insurability. Check and make sure you can get the property insured. If it's in a hurricane zone or some types of flood planes, you can find yourself holding a property that you can't get financing for, because you can't get insurance at any price.
2006-07-06 14:06:59 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Usually the liens are taken care of out of the proceeds at the auction. But that is here in PA...The only way to find out for sure is to order a title search on the property or get title insurance
2006-07-06 09:24:12 · answer #2 · answered by AT 3 · 0⤊ 0⤋
Go to the county clerks office and put in the address and it will tell you whether there is any liens against the property.
2006-07-06 14:54:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If it is a private auction, the seller must disclose that info to you.
If it is an auction by a public municipality, chances are that it is being auctioned off for non-payment of back taxes.
2006-07-06 10:24:14 · answer #4 · answered by ps2754 5 · 0⤊ 0⤋
Go down to city hall and ask clerk if their are any federal or state liens against your subject property.
or if you know a good realtor or mortgage broker, they can ask their title company to prepare a property profile. However, beware property profiles are not as thorough as Priliminary title reports.
2006-07-06 09:24:44 · answer #5 · answered by Blue Financial Group 1 · 0⤊ 0⤋
Whoever is auctioning the property is required to supply that information if requested. They can't legally sell encumbered property without full disclosure.
2006-07-06 09:33:36 · answer #6 · answered by J P 7 · 0⤊ 0⤋
You MUST hire an attorney!
Please or you will come to us later and the $ will get worse in the long run.
2006-07-06 09:22:49 · answer #7 · answered by OliveTheCat 2 · 0⤊ 0⤋
County records
YOu can do it online
2006-07-06 09:22:21 · answer #8 · answered by Havahekuvaday 2 · 0⤊ 0⤋