Foreclosures Help Information

Posts Tagged ‘how to buy foreclosures from banks’

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...

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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

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