If I buy a home from the homeowner who is currently in foreclosure, or let s say from the city auction, do I have to pay their back taxes not paid, city , state and federal in order for me to purchase???
Thank you
Jack Kresge
when you buy the propertys in a auction normaly they add in the back taxes and what is left on the morgage as the starting bid. You would have to contact the referee to get general information, make sure you do all your homework to make sure you find out, what the current mortgage balance is and make sure there isnt a second morgage. you may be responsible for back utilities also.
Tax sales and foreclosure auctions are not the same thing. There is not one answer for everything. If you are in CA, the laws will differ from TX and those will differ from NJ. Tax lien auctions are not the same as tax deed auctions and those are not the same as foreclosure auctions.