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Updated about 5 years ago on . Most recent reply

Understanding pricing on a tax sale property
I have found a property online that was foreclosed on because of unpaid taxes. The online price is $13000+, but when I looked up the in-arrears taxes owed, this was about $23,000. I will go to the tax office when they open next and ask them. There is no realtor's name or "seller's" name on the website, so to find out more, I guess should I talk to a realtor as well? My real question is: Would the price to actually get the house be the $13000+ plus the in-arrears taxes of $23000+, or a total of about $36000? Any thoughts?
Most Popular Reply

Probably the minimum bid is $13,000 plus but the other may be post judgment taxes. It means that the taxes owed when the judgment was rendered was $13,000, but it may have taken them a long time to notify everyone who had an equitable interest in the property and the taxes that have accumulated since then plus the administrative costs may be the difference. Generally that means that whatever you pay for the property at auction, you will then have to pay the post judgment taxes but not necessarily the same day but you do inherit them. Sometimes they do "mark them up" to the last year and that is why we always call before the sale to ask through what year the minimum bid is through.