Foreclosure in Fullerton>Question Details

Jin, Home Buyer in Fullerton, CA

Do I have to pay any of the delinquent taxes?

Asked by Jin, Fullerton, CA Sun Aug 23, 2009

I am purchasing a foreclosure home. I just found out that there are some delinquent taxes on this property. is delinquent taxes a type of lien? and the seller wants me to sign a lien waiver and hold harmless forms. do i have to pay for the delinquent taxes before closing?

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4
If you are buying a pre-foreclosure home th lien holder could play hardball and ask you to apid any taxlien, the question is how much to you like this home an if that is bringing the value of your purchase over tha market value.
Every thing is negotiable and it must be a wining winning situation. Get comps form your agent to establish the actual market value.
upe Medina/Realtor
RE/MAX Metro Anaheim
866-466-6650
Web Reference: http://www.homesbayarea.co
0 votes Thank Flag Link Fri Oct 30, 2009
Do not sign anything you are not sure of. Talk to a real estate attorney! If you have an agent that is working for you ask him/her to call the office attorney. Every office has to have an attorney to answer questions on retainer!
0 votes Thank Flag Link Tue Aug 25, 2009
Jin,


Talk to a real estate attorney.

Is it a lender approved short-sale?

If not, you will incur the deficiency of the mortgage as well.

If it is an REO (Foreclosed, Bank owned home) you don't have to pay the property taxes.
The property taxes are cleared before the house can be sold as an REO.
0 votes Thank Flag Link Mon Aug 24, 2009
Jim: If you are buying this home with a loan, the lender is not going to fund the loan if there are outstanding taxes due on the property. They will need to be paid.
0 votes Thank Flag Link Mon Aug 24, 2009
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