Wide Eye Posted July 14, 2006 Share Posted July 14, 2006 If the current owner of a house owns tax to the county/city, would you buy this house? I know there may be troubles... but exactly how risky is it? Link to comment Share on other sites More sharing options...
Natty Posted July 14, 2006 Share Posted July 14, 2006 If the current owner of a house owns tax to the county/city, would you buy this house? I know there may be troubles... but exactly how risky is it?If you buy the house I don't think you are responsible for the old taxes. We just bought a house that had owed taxes. The title was not free and clear until the old owners paid overdue taxes. I think money from the sale had to go to the city to cover overdue taxes. It was not risky for us. Link to comment Share on other sites More sharing options...
jm1fd Posted July 14, 2006 Share Posted July 14, 2006 If the current owner of a house owns tax to the county/city, would you buy this house? I know there may be troubles... but exactly how risky is it?My understanding is that the taxes will be made current by funds from the seller at the closing table. Link to comment Share on other sites More sharing options...
TheNiche Posted July 14, 2006 Share Posted July 14, 2006 If you buy the house I don't think you are responsible for the old taxes. We just bought a house that had owed taxes. The title was not free and clear until the old owners paid overdue taxes. I think money from the sale had to go to the city to cover overdue taxes. It was not risky for us.Yeah, the title company should catch that. If its a cash deal and you haven't yet arranged for a title policy...get one. Link to comment Share on other sites More sharing options...
TJones Posted July 14, 2006 Share Posted July 14, 2006 The sell of the house will cover the back taxes, should be part of the closing costs, or at least you need to make them part of the closing costs. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.