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Re: Re: OT---BUYING UP PROPERTY TAXES
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Posted by Slowpoke on December 25, 2003 at 16:46:08 from (67.30.99.12):
In Reply to: Re: OT---BUYING UP PROPERTY TAXES posted by Davis in SC on December 25, 2003 at 13:58:58:
The county, Home Owners Ass'n or other taxing authorities will sell the property for the back taxes(or HO dues). I'm not sure if they sell for market value and send the balance to the previous owner or not. If it's sold for the tax balance only, the person has a certain amount of time to retrieve it by paying you the back taxes and your interest, etc. You will have to make future tax payments while you wait. I don't know what happens to the mortgage since lenders want payoff at transfer of title.
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