Back Taxes, Mechanic Liens And Other Hidden Costs
Is there anywhere I can get information on the back taxes or liens on a forclosed property before I go to the courthouse and submit my bid. I am assuming I will be responsible for these costs after I buy a foreclosed property correct? This is the only area in which I am unsure about and any info would be much appreciated. Thanks, Mark.
Have a title company do a title search (or an O & E) to find any outstanding liens. Back taxes you can find in city records. Usually in the Assessor's office. Chances are, your county has this info available online. You can check this way in two minutes to see if there are back taxes owing. Otherwise, you'll have to take a trip to the county building.[ Edited by adambeal1 on Date 05/08/2004 ]
HI,
I just did my first search for hidden liens.
I went down to the county recorders office and ran the owners name. I found he had an abatement lien on the property. It took me a about 30 minutes to find the info and learn the system, but I still was not sure if I did it right. So the next day I went to a title company by my house and they did the search for me in about 5 minutes they had all the info I got and then some, and were able to explain alot of what was on the report. They did not charge me for this info, even though I was willing to pay for it. The only thing is it is not gauranteed, you have to get title insurance if you want it gauranteed.
My point is, find a title company that will do it for free, and then use them for your transactions, you will save tons of time and energy