Hi ,
I just bought a property at the foreclosure auction in Texas from a bank. The property taxes on the house were delinquent, but there was no record yet of a tax lien. Is the bank responsible for paying the taxes with the proceeds of the sale.
ie, to satisfy bank lien 200K was owed, but we bid up to 205K. If 10K in taxes are owed, then should’nt the bank pay at least the 5K overage?
I thought that if taxes are delinquent there is an “implied lien”? Also the tax lien is a superior lien , so isn’t the bank responsible for clearing any superior lien?
Thank you in advance for your thoughts and answers!
Stephanie