Property Sold at Tax Sale Baltimore City

[Ray Slack]

@Ned Carey  

I have a question about a property that I own and forgot to pay the Taxes in Baltimore City. 

I have owned a rental property in Baltimore city for a few years.. This past May 2018 I forgot to pay the taxes and the city has my address as my old address in Florida so I didn't get any of the notices. 

Fast Forward to today and the purchaser of the tax lein in May 2018 has filed a Complaint to foreclosure Right of Redemption on Jan 10th 2018 and I have until March 10th to respond. 

The Buyer is an out of State entity and bid $40,000 at the tax sale and redeemed $1,500 in property taxes/baltimore city leins.

The have filed the paperwork to foreclosure on my Right of Redemption. 

So, These are my questions. 

1. If they foreclosure I'm assuming they will pay there high bid amount of $40,000 and the city will deduct any liens from that amount and I will get the balance? What about transfer tax? leins occuring after the sale ect.  What about property taxes for 2019? are they Deducted if they come due? or does the Tax sale buyer pay those? 

2. Most importantly, at what point is the tax sale buyer committed to buy the property for their high bid amount?  After the Judge rules on the foreclosure of my right of redemption?  Can they still just choose to let the property go and lose the money they put up to redeem the taxes and Not buy the house for their high bid? 

The house has given me a lot of problems and is worth about the $40,000 they bid. I just figured this would be an easy way to sell it without transfer taxes and real estate commission and I would not have to worry about any of the city liens.

Anyone have any thoughts?, Ned maybe? 

: )

Thanks

Ray