Las Vegas Real Estate Talk!

LyricB · Joined: 28 Sep 2006 Posts: 63

I've heard of people buying foreclosured homes for ridiculously low prices, but I wonder if the people who buy these homes are also then responsible for any back taxes too?

eerie · Joined: 03 Oct 2006 Posts: 185

No, tax liens have to be satisfied in order to have a clear title. There has to be clear title on the property before the home can be re-sold.

wondering · Joined: 02 Nov 2006 Posts: 30

That's what I'd heard too, that they don't have to reveal all the back taxes. Now, who is paying to clear them? The city?

jak80 · Joined: 01 Nov 2006 Posts: 21

I would assume that the bak who foreclosed on the house to be able to sell it would have to take care of all of the back taxes.

LeighA · Joined: 24 Oct 2006 Posts: 64

That makes sense Jak. Someone obviously has to be resposible for them.

LyricB · Joined: 28 Sep 2006 Posts: 63

Now see, I have always been under the impression that the buyer is responsible to pay any back taxes as a condition of the sale. Anyone know the definitive answer to this one?

SeeMe · Joined: 19 Jan 2007 Posts: 49

I think you are right, the buyer is responsible. The person selling it is trying to get away from the liability, they won't be paying the back taxes, unless it's from the proceeds of the sale - and if there is a loan to be paid off, there might not be any proceeds. It probably varies by property though.