Home Buying in Columbus>Question Details

Nikki, Home Buyer in Columbus, OH

If you want to purchase a home that is being taken back. But you want to purchase it by paying the back taxes

Asked by Nikki, Columbus, OH Mon Jul 21, 2008

If you want to purchase a home by payng the back taxes at a goverment tax auction is that a bad idea?

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It depends on how much risk you are willing to take! It is my understanding that you will NOT get a guarantee of a clear title, unless you order and pay for it yourself. The title company may also be willing to run a prelimanary search which can help limit your exposure. It is always possible that there are other claims against the property. This is the main reason that mortgage companies require a title guarantee before they loan money on a property. You can't be too cautious in this arena so be careful! Franklin County has an excellent website to inform you on thier policy and procedure. Best wishes!!
0 votes Thank Flag Link Mon Jul 21, 2008
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