Property going to tax sale - Posted by Clarence


#1

Posted by Jackie in Dallas on October 29, 1998 at 23:18:13:

Yes - they can negotiate to sell the property to you - or refinance with you.

Before you spend too much time on this one - I’d have the title checked for other liens or judgements - especially IRS liens.


#2

Property going to tax sale - Posted by Clarence

Posted by Clarence on October 29, 1998 at 22:26:52:

I know of a multi-unit going to the tax sale 2/99. The delinquent property taxes total $100,000.The bldg. is worth about $740,000.The property is not in foreclosure.Is the owner free to negiotate with a potential buyer/investor who
can find a way to get the money before the tax sale date ?

Clarence of LA county


#3

Re: Property going to tax sale - Posted by Joe Kaiser

Posted by Joe Kaiser on October 30, 1998 at 02:10:32:

Whenever we have a tax sale here, there’s always a handful of properties with houses on them that get scheduled for sale but never actually go to sale. Typically, the lender pays the taxes at the last minute and the sale never takes place.

Check to see if there’s a lender involved and if so, realize it probably ain’t going to happen.

However, somethings fall through the cracks and every so often a property that should have cured doesn’t and everybody is caught off guard when it actually goes. A friend of mine bought a property at auction and as he was leaving the courthouse a junior lender arrived out of breath, discovered my friend was the successful bidder, and told him he’d been in an accident on the way to the courthouse and his firm (Associates) expected him to bid on it.

You just never know.

Joe