Back Taxes Owed on Nice Houses in Tx

General Real Estate Investing
1

By scanning the tax rolls, I’ve discovered 4 or 5 real nice houses with a substantial Back Tax Balance on them.
One has a tax appraisal of $125K, yearly taxes are about $1500, and a total tax balance of about $25k.
Another has a tax appraisal of $220K, yearly taxes are about $2800, and a total tax balance of about $40k.
I don’t have $25K, or $40K to pay the back taxes, plus whatever the owner wants for the property.
Is there any kind of a deal to be made here?
Obviously if this continues, the County will snag it, & auction it off.
I’m trying to intercept this, before legal action commences.
Thanks.

2

Wow, town really let those taxes build up eh? You’d figure by now they would have done something with bills that high.

3

The process as I understand it (and maybe not in every state) is when taxes are delinquent the taxes liens are auctioned so the government gets their money. The person who buys them at auction after a certain waiting period can then go through the filing process to try and foreclose on the home.

So, based on that, someone may already own those tax liens.

4

Rich_in_CT

Not usually.
The County usually gets involved way before the account gets to this amount.
What I’ve done in the past, is scout an area in the Tax Rolls, identify which accounts have past due balances, investigate backgrounds, and then perhaps decide to initiate a First Contact with the property owners.
Every once and a while, I’m not able to locate the owners.
They’ve either moved on, or have past away, & I’m unable to locate any heirs.
So far, I’ve purchased 6 lots this way, and have so far, sold 3, so it’s been pretty good.

Anyway, thanks for your response.

5

Tom
Texas doesn’t sell Tax Liens.
In Texas, the County issues a Sherriff’s Deed to the highest bidder at a public auction for back taxes. The higher bidder at that time, owns the preperty, but the previous owner may buy it back (redeem it under a time schedule) if they so desire.
[It’s similar to what you’re saying, but different.]

I’m trying to make some money by contacting the present owner myself, before the County gets its “grimely little paws” on it.
The only thing is, I don’t have 25K ro 40K to pay off their back tax bill, plus purchase their property.

Thanks anyway.