Property Sold for Unpaid Property Taxes
May 10, 2007
Last week, an agent asked me about purchasing property at the County Tax Collector's auction of properties with defaulted property taxes. The list of local properties had been published in the newspaper and on-line and the agent had a client who wished to purchase one of the listed properties. The sale was to take place May 14, 2007. However, anyone wishing to bid was required to register and make a deposit no later than May 8, 2007.
While it may look like a real deal and while there are TV programs and seminars that claim to show you how you can buy property for the back taxes, in my experience, the hype does not clearly reflect the challenges that such a purchaser may face.
If you want to pursue a property on the defaulted tax list, it is extremely important that you do your homework. First, go and look at the property. Then have a title company provide you with a preliminary title report. This report will show liens and easements. It may or may not show Mello-Roos assessments. It may or may not show any federal tax liens.
No warranty is made by the county and a purchase is made subject to whatever liens and zoning laws may affect the use and desirability of the property. The successful bidder assumes all liability and monies paid will not be refunded.
Payment must be made in full within 5 business days from the auction close. Acceptable forms of payment are Certified/Cashier's Check/Bank Money Orders, Cash or Wire Transfer all paid to the San Bernardino County Tax Collector's office.
Always remember "If it is too good to be true, it may not be true."
Last week, an agent asked me about purchasing property at the County Tax Collector's auction of properties with defaulted property taxes. The list of local properties had been published in the newspaper and on-line and the agent had a client who wished to purchase one of the listed properties. The sale was to take place May 14, 2007. However, anyone wishing to bid was required to register and make a deposit no later than May 8, 2007.
While it may look like a real deal and while there are TV programs and seminars that claim to show you how you can buy property for the back taxes, in my experience, the hype does not clearly reflect the challenges that such a purchaser may face.
If you want to pursue a property on the defaulted tax list, it is extremely important that you do your homework. First, go and look at the property. Then have a title company provide you with a preliminary title report. This report will show liens and easements. It may or may not show Mello-Roos assessments. It may or may not show any federal tax liens.
No warranty is made by the county and a purchase is made subject to whatever liens and zoning laws may affect the use and desirability of the property. The successful bidder assumes all liability and monies paid will not be refunded.
Payment must be made in full within 5 business days from the auction close. Acceptable forms of payment are Certified/Cashier's Check/Bank Money Orders, Cash or Wire Transfer all paid to the San Bernardino County Tax Collector's office.
Always remember "If it is too good to be true, it may not be true."
posted by shirley harry at 8:30 AM
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