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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Delinquent taxes are paid by the current owner. Posted by Ward-CA- on March 14, 2002 at 3:33 PM In Reply to: Back taxes in TN-who's got to pay them? posted by Paladia on March 14, 2002 at 11:25 AM : If a bank forecloses on a home (in TN), and back taxes are owed when they buy it at auction...do they have to pay all taxes off in order to get the deed in their name? : Also, can anyone tell me where I can find a break down/formula for figuring closing costs (title fees, junk fees, whatever they are called, just anything that could come up as $). : Thanks so much, this board has helped me incredibly! =•=•=•=•=•=•=•=•=•=•= Paladia, property taxes are the most senior lien against a property. Like any other lien, they should be paid on time, but if they’re not they become delinquent and bear a hefty late charge (usually 10% per year). Ultimately the property will be sold at a tax lien sale if the owner waits too long in bringing them current. So no, you don’t have to pay off the delinquent taxes as a perquisite to getting title to property. I would ask a local escrow officer what junk fees are common to real estate closings in your area. That would be much more specific than telling you what we pay here in San diego, CA. Follow Ups: Thanks, if only the locals were as straightforward as you! Paladia 7:37 PM, 03/14/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : If a bank forecloses on a home (in TN), and back taxes are owed when they buy it at auction...do they have to pay all taxes off in order to get the deed in their name? : : Also, can anyone tell me where I can find a break down/formula for figuring closing costs (title fees, junk fees, whatever they are called, just anything that could come up as $). : : Thanks so much, this board has helped me incredibly! : =•=•=•=•=•=•=•=•=•=•= : Paladia, property taxes are the most senior lien against a property. Like any other lien, they should be paid on time, but if they’re not they become delinquent and bear a hefty late charge (usually 10% per year). Ultimately the property will be sold at a tax lien sale if the owner waits too long in bringing them current. So no, you don’t have to pay off the delinquent taxes as a perquisite to getting title to property. : I would ask a local escrow officer what junk fees are common to real estate closings in your area. That would be much more specific than telling you what we pay here in San diego, CA. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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