Tax Liens & Mortgage Notes
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Tax Foreclosure Question when estate owed money
We have a neighborhood home which has been sitting empty for 6 years and is now in terrible shape, ie- total gut, but thankfully a very small home and we would use it as a rental. The previous owner passed away suddenly. The family chose not to pay taxes on it and now it is going into tax foreclosure to pay off debt from the estate. (The only heir refuses to sell thinking he can eventually make lots of money). My question involves a few items. 1) Will the property have to sell for what is owed on it ( around 10K)? 2) If we do bid on it and win the bid will we be obligated to pay off the debt/any other liens? 3) Is there any way we can get in before the auction and get the property ( without paying full price?
Thanks for your input.