Foreclosures Help Information

Posts Tagged ‘Foreclosures’

Buy Foreclosures From Banks

Question: ok,were gonna buy a foreclosure in taylor,agent says back taxes are not buyers responsibility. is this true?

if true then who pays? the bank?i am buying from the bank...

>

Answer: If you buy the house on the courthouse steps , you owe the back taxes.

If the bank took title to the house at the foreclosure auction, they will pay the taxes when you close. This is a general rule. It would be legal for the bank to put in a counter-offer that the buyer will pay all closing costs except the listing agent's commission. If so, you need to alter your offer accordingly.

Economic Crisis, Bailouts, Foreclosures & Banks Pt 2 of 2

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Foreclosed Government Homes

Question: I see this program on tv alot and want to know if anyone has used it to buy government tax foreclosed homes?

John Beck is famous on tv for his pennies on the dollar program. Has anyone ever bought house that cheap before using his program? If so Please enlighten me, and tell me where you get the lists. And what you paid for it, and any other details you can tell me. I find it hard to believe that some one would loose their house for $378.52 just because they didn't pay the taxes. Thanks in advance. Anything personnel cant be sent to my email this is a yahoo address realestatehero
He states in his program that these are actual purchase prices and they are free and clear. And after buying you can sell, keep, rent, ect.
he doesnt state that after you buy you have to pay the taxes, he states that the price you buy is the back tax.

>

Answer: This is basically a scam.

Does it sound logical that a person that owns a home that has value will lose that house just because of a few years of back taxes? First of all, if the property has a mortgage there is no-way that the bank will allow this property to be lost due to back taxes. The lender would step-up and pay these taxes.

The only properties that are lost like that is bare land when the owner discovers that the property is basically worthless. No water, no utilities, land locked by other parcels without any legal "right-of-way" to get onto the parcel. I've seen owners try and give these worthless plots away to a charity just for the tax deduction. The charities refuse them because they don't want to be responsible for the taxes either.

Government Foreclosures - Government Owned Homes - Video

Buy Foreclosures Florida

Question: how do I find out information about an abandoned house in Pasco County, Florida?

We want to buy a house that has been abandoned but can't find out who owns it. We have found the original owner's info online but there is no contact info, or which bank owns it if it has gone into foreclosure. We are wondering if the bank that owns it has gone out of business, what would happen to the house then? Can't find Yahoo Answers in America!
the property taxes haven't been paid for the past year and a half

>

Answer: The tax assessor will know who owns it. You are on your own to contact them, they have no obligation to tell you how to reach them. You can obtain bank information, but unless the bank owns it they can't legally tell you anything either.

It does not sound like this is abandoned, only vacant. Abandoned property ends up belonging to the state, which sells it.

How To Buy Foreclosures In Fort Lauderdale | South Florida