Profile picture for gartanen

Past due property taxes?

Current owner of home has 2008 + 2009 Oregon property taxes past due. If I purchase this home will I be responsible for the past amounts?
  • December 24 2009 - Happy Valley
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Answers (2)

Best Answer

If your offer to purchase was written on a standard Oregon Earnest money agreement - the answer to your question lies in the contract - it says that the title must be clear - which does mean taxes.... however if the taxes are tax deferred or other types of deferrment you may want to address these separately - Past due taxes are a common issue with a transaction and most of the time they are paid by eh seller or the (bank if a bank owned property or short sale) at closing.

the previous answer is good too - your title / escrow company and your agent would be the best source for this answer - as they have a copy of your contract.
  • December 24 2009
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Profile picture for sunnyview
You should not be responsible for past amounts. Generally yearly property tax are paid from escrow and prorated. Past amounts would generally have to be paid before the property was allowed to be transferred to the new owner. You can stipulate in the contract that all past taxes must be paid by the owner in escrow if you are worried. You can also call a local escrow company and ask how they handle past due taxes since they would be responsible for making sure you get a clear lien free title. Most escrow agents that I have met have been very helpful and nice.
  • December 24 2009
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