Ask Experts Questions for FREE Help!
  Advanced
Register  |  Log in  
   Ask    
 Answer  
  Help  

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now
3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Law > Real Estate Law   »   goverment tax forclosures

 
Thread Tools Search this Thread Display Modes
Question
 
 
#1  
Old Jan 27, 2008, 05:42 AM
trukuban
New Member
trukuban is offline
 
Join Date: Jan 2008
Posts: 1
trukuban See this member's comment history on his/her Profile page.
goverment tax forclosures

Hi, I will be going to attend auction fir buying tax sale foreclosures. However I have some questions:
1. If the previous owner still have mortgage left or equity loan on it, who would be responsible for it?
2. If the previous owner still live there, how do I get them out of there?
3. Once I paid the bid, how would I get the ordinary clean title, instead of referee title?

Reply With Quote
 
     

Answers
 
 
Old Apr 11, 2008, 05:49 PM   #2  
New Member
wolak is offline
 
Join Date: Apr 2008
Posts: 1
wolak See this member's comment history on his/her Profile page.
from what i heard is you dont owe anything but what the tax is. you pay off the tax bill aND THE PROPERTY IS YOUR FREE AND CLEAR. WHAT I WOULD LIKE TO KNOW IS WHERE AND WHEN ARE THESE AUCTIONS?
  Reply With Quote
 
     
 
 
Old Apr 11, 2008, 06:07 PM   #3  
Christianity Expert
Fr_Chuck is offline
 
Fr_Chuck's Avatar
 
Join Date: Nov 2005
Location: Georgia
Posts: 34,688
Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.Fr_Chuck See this member's comment history on his/her Profile page.
First almost never ever does a property with a mortage though a bank or loan company ever sell at the auctions, the bank pays the tax at the very last minute ( like the day before the sale) and adds it to the loan and then may start thier own foreclosures.

If they do sale at these sales, the tax sale is suppose to clear it.
BUT, what state, since the law differs 100 percent from state to state.
In most states you don't get a deed to the property the day of the sale, you get a tax certificate which you hold for 1 to 3 years which is the time they have to redeem. So you do need to find if there is a redemption period in your state. So after the redemption period you turn your cerficate in for a deed.

Each county in the US holds these sales at least once a year, they are normally held on the county court steps, and you have to have the cash or approved check the day of the sale.

If you live in a state where you get a deed the day of the sale, and there is someone on the property, you serve them with eviction paperwork and if they don't leave with proper notice, you take them to houseing court for a legal eviction.

The deed you get varies by name, I have not heard of it called a referee title, I have seen it as a tax deed, a sheriff deed or a special deed, but I guess this is what your state calls it.

If you want to be sure the title is clear, you will have to do a motion in court to prove the title clear.
  Reply With Quote
 
     

Bookmarks


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

 
Similar Sponsors


Similar Threads
Question Asker Forum Answers Last Post
buying goverment tax sale foreclosures mek88 Real Estate Law 1 Aug 3, 2008 01:57 PM
are realtors at fault of home forclosures? sweetroses10cali Real Estate Law 9 Feb 1, 2008 10:21 AM
U.S. History And Goverment Speedyz3 History 6 Sep 11, 2007 11:04 PM
when a forclosures in progress chrystal0106 Real Estate Law 0 Mar 19, 2007 06:03 PM
Goverment Surferlilo2007 Other Education 1 Jan 16, 2007 06:54 PM




Copyright ©2003 - 2007, Ask Me Help Desk.
All times are GMT -8. The time now is 01:05 PM.