Is there any legality issues with contacting the owner of a property prior to an auction and making a deal with them to pay there debts and buying the property from them?
If you can close on the property before the auction you can stop the auction.
You can also pay off the taxes for the homeowner as a recorded mortgage on the property to stop the auction. Later you can close on the property and get your money back.
These are the two easiest ways that I can think of off the top of my head.
Thanks, I must have misunderstood the county tax collectors website. It indicated that upcoming auctions with properties listed could not be purchased prior to auction. Is there something Im missing?
I think that means that you cannot purchase the property from the "tax collector himself" before the auction You have to bid to get it. But, I don't think there is a problem with making a deal with the homeowner to pay off his taxes before the property goes to auction. The homeowner has until a certain time the day before the auction to pay the bill and keep the house/land etc...
Breanna
I found my own answer.
In the bay area I would not be able to pre pay the defaulted taxes to avoid the auction.
If you can close on the property before the auction you can stop the auction.
You can also pay off the taxes for the homeowner as a recorded mortgage on the property to stop the auction. Later you can close on the property and get your money back.
These are the two easiest ways that I can think of off the top of my head.
Thanks, I must have misunderstood the county tax collectors website. It indicated that upcoming auctions with properties listed could not be purchased prior to auction. Is there something Im missing?
Hi Lake,
I think that means that you cannot purchase the property from the "tax collector himself" before the auction You have to bid to get it. But, I don't think there is a problem with making a deal with the homeowner to pay off his taxes before the property goes to auction. The homeowner has until a certain time the day before the auction to pay the bill and keep the house/land etc...
Breanna
Thanks Breanna