likeheaven777, Home Buyer in Mays Landing, NJ

is there taxes owed on this property?

Asked by likeheaven777, Mays Landing, NJ Sat Oct 20, 2012

interested in purchase

--
This question was asked from this property: http://www.trulia.com/property/1058094348-1212-Harbor-Ave-Ma…

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Larry Sarlo, Agent, Sewell, NJ
Sat Oct 20, 2012
Short Sales require 3 parties to agree to the terms. When you purchase this home is will be free and clear of all liens and encumbrances You will purchase title insurance which guarantees this free and clear title. It is highly important that all buyers of foreclosures and short sales purchase title insurance.

When you buy a short sale you enter into a contract with the seller. then the seller must submit this contract to the bank/lender to agree to the contract. If the bank agrees to the contract an approval letter is given to the seller ,buyer should also obtain a copy, and then you schedule settlement and close.

Sounds easy doesn't it? http://sellitfast123.com/buyers-avoid-short-sale-problems/

Using a professional experienced in short sales is very important. Always use a real estate buyer agent who has experience in short sales. They will know the processes and make it much easier to push the processes thru easier when needed.

A buyers agent should always consult the sellers agent to discuss the short sale process.

Search Short Sales and foeclosure Deals at http://www.BuyNjShortSales.com

Nobody sells More Real Estate than REMAX

Larry Sarlo
RE/MAX Preferred
609-868-1171
lsarlo@comcast.net
http://www.larrysarlo.com
0 votes
Holly, Home Buyer, Mays Landing, NJ
Sat Oct 20, 2012
Hello Likeheaven777,

This property is a short sale and there may be taxes owed but that would not be the buyer's responsibility to pay for any back taxes. In the case of a short sale or foreclosure property, the bank that holds the ownership rights has the obligation to pay all taxes and insurances that are outstanding. A property can not be sold to a new owner without all debt on the property being satisfied.

Please let me know if you have any other questions or if I can help you in anyway with this property or any other.

Holly Cassidy
Down The Shore Realty
609-517-6034
Holly@DTSRealty.com
0 votes
Search Advice
Search
Ask our community a question
Property Q&A in Mays Landing Zip Codes

Email me when…

Learn more