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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Thanks, if only the locals were as straightforward as you! Posted by Paladia on March 14, 2002 at 7:37 PM In Reply to: Delinquent taxes are paid by the current owner. posted by Ward-CA- on March 14, 2002 at 3:33 PM To make sure I understand: If the property was sold some months ago at a foreclosure auction back to its mortgage bank, and delinquent taxes were paid by the bank (they would have to have been brought current)... then something comes out proving that very foreclosure wasn't done correctly so is therefore null and void... this makes the taxes still paid. The above scenario has happened, and now I'm trying to buy the house from the original owners who thought they lost it in foreclosure a few months ago. My realtor is trying to tell me I will still have to pay as much as I'd offered originally to the mortgage co. (tax costs they paid included), plus additionaly money to coerce the sellers into showing up for close. I'm hoping I'm in a position to bargain a little now-I can't help it if the mortgage company paid the taxes already...they should have paid attention to their p's and q's or I'd have never gone looking for the owners. Your take on this? My apologies if it's confusing-there is a lot to it. Thanks regardless. : =•=•=•=•=•=•=•=•=•=•= : 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: Post a Followup: Name : E-Mail : Subject : Comments: : To make sure I understand: : If the property was sold some months ago at a foreclosure auction back to its mortgage bank, : and delinquent taxes were paid by the bank (they would have to have been brought current)... : then something comes out proving that very foreclosure wasn't done correctly so is therefore null and void... : this makes the taxes still paid. : The above scenario has happened, and now I'm trying to buy the house : from the original owners who thought they lost it in foreclosure a few : months ago. My realtor is trying to tell me I will still have to pay as much : as I'd offered originally to the mortgage co. (tax costs they paid included), : plus additionaly money to coerce the sellers into showing up for close. : I'm hoping I'm in a position to bargain a little now-I can't help it if the : mortgage company paid the taxes already...they should have paid attention : to their p's and q's or I'd have never gone looking for the owners. : Your take on this? My apologies if it's confusing-there is a lot to it. : Thanks regardless. : : =•=•=•=•=•=•=•=•=•=•= : : 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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