tax sale info- California
I am interested in purchasing a property that is being auctioned for back property taxes. The bidding price starts at the total due in back taxes (from what I understand this is 4+ years). Is this usually all that would be paid, or will I be responsible for any unpaid loans that are associated with this property, such as a first or second mortgage (or trust deed)?
I was told by a person at the county, that once a property goes to auction, any parties that have liens on that property, give up their interest in the property if they choose not to pay the back taxes, and claim said property.
Is this correct? If not, how can I get ALL the information regarding what I would be responsible for if I won the auction on that property.
Thank you.
To get all of the infomation, check the Statutes for that particular state.
Try 'google' or some other search engine and search for something like 'tax leins California'
Or, buy a book on the subject. I hear John Beck puts out good info, but his marketing company hounds you to buy more from them.