How A Tax Sale Attorney Can Help You Find The Ideal Investment Property
If you are interested in investing in real estate, you might want to start checking out the local tax sale lists through the county court websites. Generally, each year, properties that have several years of unpaid taxes will go up for sale through an auction. If you have never bought a tax sale property before, you want to be very careful. It can be an amazing opportunity, but you need to know what to look out for. This is where the tax sale attorney comes in. Check out the following ways in which a tax sale attorney can help you:
They Can Research Standing Liens
Each tax sale, in each state, within each county, and with each piece of property could have different issues with liens that were placed against the deed before the property went on the tax sale list. Some tax sales will completely wipe out any outstanding liens, with exceptions to government or IRS liens. Those would immediately become due after the property is sold, and it is the new owner that would be responsible for those liens. You want to make sure that you are not bidding on a property that has existing liens that could cause you trouble. This is why you will have your attorney research the liens on the properties that you are interested in.
They Can Find Out About Any Redemption Period
In some areas, the owner of the property has a set amount of time after the close of the auction to redeem it. If they can come up with all of the money owed, the deed will revert back to them and you will no longer have the property. You will get your money back and until you are told it is officially yours, you cannot even access the inside of the property. The people that lost the home at auction might still live there. You can have your tax sale attorney research what type of tax sale is coming up and whether there is a redemption period in that county or state. If there is and you want to avoid such situations, your attorney can direct you to the areas where there is no redemption period and the property is all yours immediately after the sale.
Call around to find a tax sale attorney, like the Law Office of Crystal L Johnson, that will be able to help you right away so you can be prepared for the upcoming tax sale.