Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago,

User Stats

17
Posts
9
Votes
Kurt Kleespies
9
Votes |
17
Posts

Foreclosure Purchase - Unpaid Taxes

Kurt Kleespies
Posted

Recently I was the high bidder on a foreclosure at sheriff's auction in MN and I currently hold the sheriff's certificate for the property.  This is my first sheriff's auction and there were property taxes that were unpaid plus a small penalty.  

Questions: Should I pay the property taxes that are currently past due?  Or should I wait until the redemption is up to see if I end up with the property causing the taxes to potentially be delinquent with the county + more penalty?  Would the homeowner be required to pay those taxes back to me if they redeem?

The redemption runs into 2021.  From what I understand in Minnesota, if they go past the current year when they were due (2020), they will be considered delinquent and the county could impose a tax lien on the property where there currently is not one.  In the event that the homeowner redeems, my understanding is that I can charge the original mortgage interest rate + reasonable attorney fees + property taxes I paid for the homeowner + necessary expenses to keep the home from declining?  

Am I correct in assuming that I can charge the property taxes that I would pay on their behalf back to them in the event that they redeem?  If anyone has some experience in this area or specifically with this in MN, I would love some feedback.  My thought is that I should pay them to avoid additional penalties/problems and I am hoping that they would legally be required to repay them to me as part of a redemption total.  

Loading replies...