In the US, some states allow counties to place a lien property with delinquent property taxes. Under most state laws, property tax liens are given a first lien status and considered to be superior than other liens, Part of which includes mortgages and it doesn’t matter if the mortgage was recorded prior to the tax lien or not.
With delinquent taxes, there will be instances where the authority will decide that initiating a tax sale will be the best solution for the land owner’s. For this, a list will be recorded in the county records– here, the taxpayers’ names are written, together with the property and the amount due. After some time, the tax payer will receive a notice of the tax being available for sale. However, in most jurisdictions, a judicial action won’t be necessary at all.
How Are Delinquent Property Taxes Paid?
Property taxes are usually paid through an escrow account made by the mortgage lender. This implies that the borrower is required to pay extra funds for property taxes to the lender. This goes with the interest and principal as a component of the monthly payment. However, there are cases where the homeowner is required to pay the property taxes separately from that mortgage.
When economic difficulties arise, they have the privilege of deciding whether they should continue or stop paying the property taxes all together. Once this takes place properties begin to fall behind on property taxes. Once you are behind on property taxes, each county has its own process as to when defaulted property tax properties will be sold.
Selling Land With Delinquent Property Taxes
Contrary to popular belief, selling your land doesn’t have to be a difficult task at all. We buy vacant land in Atlanta Georgia and other parts of the country. We are not real estate agents, we are actually the ones buying your land. We’re very much aware that trying to sell your land through a realtor can be a headache. Mainly because they don’t really understand the process, and thus, it’s difficult for them to exert the necessary effort needed to help your land sell.
That’s what make us different. We pay in cash which makes the process easier. We don’t involve the banks, and so we can quickly close the deal as it all depends on what you are comfortable with. Furthermore, just like what we have mentioned earlier, if you’ll work with us, rest assured that there won’t be any hidden fees involved. This only means that you don’t have to worry about the extra costs that are usually involved in selling land.
We Will Pay for Your Delinquent Property Taxes!
Lastly, we’ll be the ones to pay for your back property taxes! That means selling your property to us wouldn’t even cost you a dime. No need to think about the closing costs, notary fees, escrow fees, transfer fees, and recording fees. We’ll handle everything for you!
We can say that the offer we’re going to make, will be the amount you’re going to receive.