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    mrjlbunch's Avatar
    mrjlbunch Posts: 1, Reputation: 1
    New Member
     
    #1

    Mar 11, 2009, 04:44 PM
    Tax sale homes
    Hi, I will be going to attent 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?
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
    Ultra Member
     
    #2

    Mar 11, 2009, 05:19 PM

    I am going to editorialize here for a second...

    If you do not know the answers to these questions and need to come onto the internet to get them answered, you are probably best off not being a part of a very difficult and convoluted process such as getting a cleared title from a tax sale.

    Save your money and invest it wisely.

    Please pardon my rant.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    Mar 11, 2009, 05:29 PM

    1. If there is still an outstanding loan on the property then the lender is going to pay the taxes ti protect their interest.
    2. Once title is passed to you, you will have to go through a formal eviction process to physically remove the resident.
    3. That varies per county,

    But I agree with Steve, Properties that go in tax sales are most likely to abandoned and in disrepair.

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