Posted on: 01st Aug, 2010 03:09 am
Has anyone purchased a property at auction by the US Marshal's Service? I am worried about what I might owe if I buy a property seized in a criminal proceeding. The management company of the property simply states in their literature "Buyers receive a deed and insurable title to each property, as evidenced by the title insurance offered by the closer indicated in the contract." Would I have to pay back taxes or is the government required to do that? I think I'm going to throw up.
Hi blueeyes,
You should go for a title check before purchasing the property. You can either contact the county recorder's office or contact a title search company for the same. They will help you know whether or not there are liens on the property. If you find that there are liens on the property, you should contact the concerned authorities and check out as to who would be liable for paying them.
Thanks
You should go for a title check before purchasing the property. You can either contact the county recorder's office or contact a title search company for the same. They will help you know whether or not there are liens on the property. If you find that there are liens on the property, you should contact the concerned authorities and check out as to who would be liable for paying them.
Thanks
Thanks for your note; I got a hold of someone at the Marshal's office, and they will pay the back taxes.
Buying real property at auction is very risky and is for advanced real estate buyers. You will be liable for any liens and back taxes (the marshall may pay some, but not all taxes, for some, but not all taxing jurisdictions). If you are confident you can research title and tax liability, you may find a good deal.
