Profile picture for New MexicoGlo

How can I search for all possible liens on tax foreclosure properties?

Since the list is 100+ properties long, I don't want to pay for a title search on every property! There are some pretty good looking properties getting ready to head for the auction block and I would like to know which ones are safe to bid on. Also, can you please explain how it works once you win the bid. I understand that there is a 2 month waiting period before you fully own the property. What has me concerned is that there is a clause in the information provided by the assessor's office that says that the owners have 2 full years to object to the sale/purchase. Would this mean that they can take the house from you and you lose what you paid for it? I could really use your help! :-)
  • January 09 2013 - Roswell
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Answers (6)

Best Answer

You're right, there are a lot of abbreviations on the public records and I have had to call our title for explanations from time to time. Call a local title and offer to bring lunch if they will sit down with you and explain what you are looking at. A sandwich tray and beverages costs a lot less than an hour with a real estate attorney, and you will make a connection that you can call on from time to time
  • January 09 2013
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Profile picture for user2097773
Please also note that when buying tax certificates, you don't get immediate possession of the property if you're in a redemption state. That means the current owner could continue to live in the property until the redemption period expires. At that time, you would have to begin eviction proceedings to remove him from the property.

In some states, the eviction process as pertains to buying tax certficates, is still a matter that's not fully settled, so be prepared for a legal battle when the redemption period expires.
  • February 01 2013
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Profile picture for Ruidoso Annie
New Mexico law allows a borrower to redeem a property within nine months of the foreclosure sale date. The borrower must pay the foreclosure sale price, costs, fees and interest in order to redeem the property.
  • January 11 2013
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Profile picture for CallTheSisters
Are you a redemption state or an absolute sale state?  In some states the owner has the right of redemption up to two years.  You are then buying a tax certificate.  The tax certificate is interest bearing.  If the owner pays you what you paid out plus interest they can redeem their property on the last day of the 2 year redemption period.

South Carolina is a certificate state - Pennsylvania is an absolute sale state.  However, in Pa you are not only responsible for all tax liens, but mortgages, mechanics liens, and any other indebtedness placed against the property through legal channels.

A property owner in almost any state can pay the taxes the day before the sale starts.  Buying tax sales is not something to jump into without an experienced person to guide you.
  • January 10 2013
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Profile picture for New MexicoGlo
Thanks for the quick reply! I am new to all of this and of course, have a Lot of questions. I have been able to find many of the records on line, just haven't gotten to all of them yet, but I'm not exactly sure of what I'm looking at with some of the items listed in the records. Is there any examples you could give of what a non-tax lien item would look like on the records? Sorry to be obtuse, I'm just a greeny at this point. hehe As for the time limit for redemption, I did manage to get that answered by a gentleman at the courthouse, so am aware that there is a 2 year waiting period before the property is cleared if purchased at auction.

I am also looking at some alternatives to purchasing at auction, but still would like to know how to read the records, so any information you could send would be greatly appreciated!

Thanks again for your quick response. :-)
  • January 09 2013
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Sounds like you need to take a trip to the county offices in the county where the properties are located. The clerks office or register of deed should have all information of liens that are on a property. They should also be able to direct you to someone to answer your other questions about the owners reclaiming the property.

In some areas, if a property is purchased for back taxes, the owner has a period of time to redeem the property, but they have to repay the purchaser with interest.
  • January 09 2013
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