I agree with Keith Manson. Most of the foreclosures I've done have also had the taxes paid by the bank and pro-rated through the date the buyer closed on the home. You just need to find out if it's being sold "free and clear" or whether you will be responsible for any owed back taxes...it can sometimes be thousands of dollars and I've read where buyers were unaware of this until after they closed...

This will depend on the contract. Most transactions I have completed the bank has paid the outstanding taxes and pro-rated the current year. If it is a short sale it may be a different story and the bank may be reluctant to pay any back taxes.


Keith Manson
First Weber Group
Certified Distressed Property Expert
GreenField, Wisconin