do some homes come with back taxes?

Asked by Salvador Ortega, Chicago, IL Wed Oct 31, 2012

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Coretta, , Chicago, IL
Wed Oct 31, 2012
usually not when you are renting.
1 vote
Noah Seidenb…, Agent, Evanston, IL
Sat Jan 4, 2014
Foreclosures sometimes do. Your attorney can find out about any back taxes or monthly assessments if it is a condo. Sometimes Single Family Homes that are in the foreclosure state require the buyer to pay water bills too.
Good luck
0 votes
Joe Schiller, Agent, Chicago, IL
Thu Jan 2, 2014
there may be and you want to seller to pay them at closing..nobody is closing on a property without this being clarified
0 votes
Sohail Salah…, Agent, Chicago, IL
Thu Nov 1, 2012

Yes, it all depends on the property and the situation that it is currently in.

Sohail A. Salahuddin | Group Founder

Innovative Property Consultants Group | Sales and Leasing

Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 

O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Locally Known, Globally Recognized"
0 votes
David Hanna, Agent, Chicago, IL
Wed Oct 31, 2012
Yes, like everything else, this is something subject to negotiation, but in some cases the seller will not be willing or able to take care of back taxes.
It is almost unheard of for a lender to close a loan with taxes in arrears, so adjust what you are looking at and go from there.
0 votes
Bill J Delig…, Agent, Naperville, IL
Wed Oct 31, 2012
Usually the seller takes care of paying off any real estate taxes that are owed at closing. It's important that you work with an attorney who will ensure that you are receiving a clear Title and No Back Taxes owed.
0 votes
Matt Laricy, Agent, Chicago, IL
Wed Oct 31, 2012
If its a foreclosure oyu could be held liable for 6months in the state of Illinois.
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Tom Wagener, , Chicago, IL
Wed Oct 31, 2012
Yes. If you buy a home via a short sale or through a Sheriff's sale then the bank has never taken possession of the property and you are responsible for back taxes owed. If buying through a short sale always insist on having the lender pay the back taxes. Some will...some won't.

Tom Wagener, CCIM
Just Commercial
0 votes
Philip Sencer, Agent, Chicago, IL
Wed Oct 31, 2012
Back taxes are always paid by the seller at or before closing. Since cook county taxes are in 'arrears' you are given a credit for at least 100% of the last available tax bill which is usually 1 year behind. On Reo transactions, you only get 100% of the last known bill. On normal transactions you usualy get 110% although that is negotiable.
0 votes
Rusty Payton, Agent, Chicago, IL
Wed Oct 31, 2012
When you close on a purchase, taxes need to be brought current by the seller and you are given a credit for taxes not yet due which are for the period when your seller owned the property. You receive at closing a title insurance policy that assures you that as the current owner you are not responsible for the seller's taxes. ye, an attorney will be able to guide you through this process. Good luck in your search.

Rusty A. Payton, Broker
iMove Chicago
5650 N Broadway
Chicago, Illinois 60660

773-961-8819 [Office]
773-289-0806 [Fax]
773-682-5210 [Mobile]


0 votes
Matt Bukovy, Mortgage Broker Or Lender, Chicago, IL
Wed Oct 31, 2012

ON the one hand, ALL homes come with "back taxes" since the tax bill that we pay in Chicago/Cooko County is actually the tax bill for last year. In most cases, the seller will credit you enough at closing to pay their fair share of the taxes that are due the year after you buy.

However, there are some instances where the last tax bill (or two) have not yet been paid by the current seller. In this case, these taxes will need to be paid (or, in the case of SERIOUSLY delinquent "back taxes", a trip to the County Building may be in store to get a "certificate of redemption".

IN any event, these are things that your attorney can answer for you during the Attorney Review period.

If you'd like a referral for an attorney, or I may be of further assitance in securing a home loan for you, you can contact me at 773-416-7107.


Matt Bukovy
Senior Mortgage Consultant
Wintrust Mortgage
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