Foreclosure Taxes
Is the winning bidder on a foreclosure responsible for back taxes the owner owes?
Also who do you know how much to offer a person in preforeclosure? :-D
Is the winning bidder on a foreclosure responsible for back taxes the owner owes?
Also who do you know how much to offer a person in preforeclosure? :-D
Yes the winning bidder is responsible for the back taxes. The back taxes will be a lein on the property and federal state and local tax are superior leins which means they will survive foreclosures and the new successful bidder will be responsible for paying them. they will cloud the title and will need to be paid before clear you can get clear title. You may be able to negotiate a lessor ammount to satify the tax payoff.
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