Home Buying in 24073>Question Details

bonjmsbond, Home Buyer in Christiansburg, VA

We just purchased a townhouse at auction. Who is responsible for any back taxes owed againest property?

Asked by bonjmsbond, Christiansburg, VA Wed Nov 21, 2012

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If you closed your purchase transaction without the seller paying the back taxes, the tax liability is now yours. Tax liens are superior to the deed of trust lien and will survive the closing.
0 votes Thank Flag Link Wed Nov 21, 2012
Typically, if you buy a home at trustee auction, you're accepting all the liabilities associated with the property, including any back taxes, permit issues, or any title issues. That's why auctions tend to offer discounts against retail market price as it rewards knowledgable buyers for doing their homework. If you worked with a Realtor, you can get some help to determine your options.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Wed Nov 21, 2012
Hi. Traditionally, the back taxes should be paid from the seller's proceeds at closing with the current tax period prorated by the number of days the buyers owns the property including the day of closing. The seller is responsible for any liens including contractor's, HOA, etc. If the property was bought at a tax sale, you bought a tax lien agaisnt the property that covers the back taxes.

Hope this helps
0 votes Thank Flag Link Wed Nov 21, 2012
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