I need info on buying property for back taxes?

Question

I have found some property i'm interested in buying. I have found who owns this property but have been unable to reach them. I called the courthouse and there is back taxes owed. I was told that I could pay the taxes owed and if they don't pay by the first of the year the property would be turned over to me. Is this accurate? This is just the land. There is no home and the yard hasn't been mowed in two years. Any help would be appreciated

Answer 1

This is not exactly the case. If the property goes at a tax sale, you would be buying a tax lien certificate that represents a lien on the property for non-payment of taxes. The delinquent owner has a certain amount of time (called the redemption period, which is usually two years) to pay the back-taxes plus interest. If the property does not get redeemed, then you can pursue ownership of the property through foreclosure. Find out from the county when the tax sale is, and make sure to bid on the property when the time comes...

Hope this helps...

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Answer 2

Yes, you can pay the back taxes, which puts a tax lien on the property. Governments often put such properties up for bid and buyers bid on the tax lien. If you found one that has not been put up for auction yet, you are ahead of the game because you are the only bidder. Just be sure your payment is for a tax lien and not just a gift to the owner.

The owner is given a specified length of time during which he can cancel the lien. If he cancels, you get your money back plus penalties and interest paid by the owner, and you will have a good profit but not the land. If he ignores the lien, after a specified amount of time title of the property will pass to you. The exact process depends on state laws, and you should check carefully on the time involved and what you have to do to get title.

Answer 3

This varies by state, but in any event, if you simply walk in and say "I want to pay the taxes on this property", all you will get is a receipt. It won't entitle you to anything, including reimbursement from the owner.

Don't ask here how it's done, look into your states delinquent real property tax laws.

Answer 4

If someone at the county told you that, then I would assume it's true. But payer beware, if you pay the back taxes and the owner comes back to claim, you have lost your money.