For example: When looking at the daily property sales on Franklin county, Ohio auditor's website there are properties sold for much much less than their market value. The sale price is so low that I figure it has to be a result of the current owner's inability to pay the delinquent taxes. So does the new purchaser contact the current delinquent owner and offer to buy the house for the amount owed plus extra to make the offer more enticing? I feel like this is one of the big hurdles to becoming a more savvy investor.
Please help!!
Yes, it is customary for the auction company to be responsible for the security of the property. Additionally, many auction houses have insurance for this specific purpose. In most cases the auction company will secure the property to avoid any problems. Read your contract carefully this is not always the case.
No, the auctioneer would not be legally responsible if someone got hurt at an auction. The auctioneer is only an employee.
Yes
No, paying someone else's property taxes does not automatically mean that you own the property. Property ownership is determined by the legal title and deed, not by paying taxes on behalf of someone else.
Paying the delinquent property taxes on someone else's property does not automatically entitle you to ownership of that property. However, some states have provisions for filing a tax lien against the property if the taxes are not repaid within a certain period, which could potentially lead to ownership rights. It is important to consult with a legal professional for guidance in such situations.
by definition, a foreclosed property has to have someone file the foreclosure usually due to them being owed money and the property is security on the property. This is not cheap or free. Hence, there is always a "buyer" out there which is often the lender.
Generally, if you pay someone's property tax bill you would be considered a volunteer. Paying the bill, in and of itself, does not give you any special authority. To acquire title to delinquent tax title property, the municipality must take possession of the property through a tax taking procedure and then convey it to a new owner at a sale of tax title properties. You should speak to someone at the tax assessor's office.
Your personal property goes up for public auction, and someone else can buy it for much less than it is worth and throw you out legally. Unfair as they are, it is more practical to pay the taxes.
I guess indication that someone owns the property. * It usually indicates that the property is not fit for occupancy. A notice to prospective buyers at the foreclosure auction that the property will need to be brought up to municipal codes before it can be resold or inhabited.
United StatesNo. Generally you cannot get title to property simply by paying the delinquent taxes. The procedures vary from state to state but there needs to be a transfer of title. Towns have the legal authority to take possession of real property for non-payment of property taxes. In some jurisdictions the town must then get a court decree that perfects title in the town. Once the tax taking process is completed the town can sell the property at a public auction and the delinquent taxes must be paid. You need to check the procedure in your particular jurisdiction. Tax sales are usually advertised in the local newspaper.Generally, when you pay taxes assessed to someone else for property they own, you are simply considered a volunteer.If you are thinking of trying to acquire a property by adverse possession one of the common elements is paying the taxes on the land. Laws vary. You should consult with an attorney in your jurisdiction who specializes in real estate law to determine the steps you must take to acquire a parcel by adverse possession.
A delinquent child can commit a crime that's illegal for someone over 18 (Ex: Murder) while an unruly juvenile commits a crime that's not illegal for someone over 18 (Ex: Smoking)
Unpaid property taxes in Florida result in sales of Tax certificates. I have found that the liability is against the property and unpaid taxes are satisfied by a lien against the property. I can't find anywhere the answer as to whether the Taxpayer is not reported to the credit bureau. it seems to me that since counties get the money a different way (investor in the tax certificate) they are not at loss and because the liability is against the property, the owner of the property's credit is not affected? Can someone confirm? Tx CB, Ormond Beach, FL