Property taxes after foreclosure? - Posted by abby

Posted by Stan on August 13, 2007 at 08:43:23:

Foreclosure does not wipe out the tax lien. That will follow the property. For example, prop has 1st for $100k and 2nd for $35k. In this example, the 1st is foreclosing. There is alos a tax lien for $50k. At the auction, the bank accepts a bid for $95k. The first will be satisfied (possible with a judgement for the remaining amount on the first). The 2md will be wiped out (since they elected not to protect themslef on the bid). However, the $50k tax lien will remin with the propety. The new owner will have to satisfy that.

Property taxes after foreclosure? - Posted by abby

Posted by abby on August 12, 2007 at 06:18:58:

I thought to sell property at foreclosure they had to have a clear title. Would they not pay all owed property taxes to the town to get clear title?

My foreclosure was on August 4th.

I received a bill from the town for over $700

Is this taxes I owe after foreclosure?

I’d appreciate any answers.

thank you.

Re: Property taxes after foreclosure? - Posted by Joe Kaiser

Posted by Joe Kaiser on August 12, 2007 at 11:16:03:

The property owes the taxes so it becomes the responsibilty of the new
property owner. If that’s not you it’s not your problem.

Joe Kaiser

Re: Property taxes after foreclosure? - Posted by Dan Stra

Posted by Dan Stra on August 12, 2007 at 07:00:03:

Were you foreclosed on or did you buy the house at foreclosure?

Best,

Dan
danATnortheastreia.com

Re: Property taxes after foreclosure? - Posted by ken

Posted by ken on August 12, 2007 at 06:47:23:

I take it that you lost the house.If that is the case do not worry about it.The bank will pay the taxes when they sell it.The taxes stay with the house so it is the banks problem.

Re: Property taxes after foreclosure? - Posted by abby

Posted by abby on August 12, 2007 at 12:01:29:

Thank you Joe.
That news helps a lot.
Didn’t the title have to be clear of liens, taxes prior to being sold at foreclosure?

Re: Property taxes after foreclosure? - Posted by abby

Posted by abby on August 12, 2007 at 11:59:43:

my property was forclosed on

Re: Property taxes after foreclosure? - Posted by Pat

Posted by Pat on August 13, 2007 at 16:41:38:

does that include Home Owner Associates fees and a realtor lien?
I had a similar forclosure recently, mine was a condo.
owed about $3500 in back condo fees, some taxes, and a crazy real estate agent who refuse to show the property, advertised it only once in a tiny ad,
he was the (RE broker) also, refused to show for inspections, appraisals etc and
made up a contract which yes I stupidly signed, saying
I’d have to pay him $500+ for 'advertising and a similar cost for REALTOR fees.