Posted by Bill H on December 22, 2007 at 15:52:06:
Very True, Rich. Friend of mine went to court and got told by the judge…“Young man this is my court, my venue, my district…and the law is going to say exactly what I say it says…do you understand me?”
My friend got in last word…"YES SIR:…He lost.
Good luck,
Bill H
Tax Sale… - Posted by Ben
Posted by Ben on December 21, 2007 at 12:00:58:
My house sits on 2 lots…One of the lots was sold at a tax sale…I was unaware that the taxes were delinquent on the lot in question…my fault for not reading all mail sent…
The purchaser of the lot (tax sale) is offering me the opportunity to purchase the property back…however, he is asking $10,000.00 more than what he paid to purchase property…I had indiated that I would be willing to give him $1,000 plus his costs to purchase property…
If we are unable to an agreement, what are the adverse
actions I can anticipate…whatif I elect to do nothing?..can he force a sale?..etc.
Any advice is appreciated…property… location…
Re: Tax Sale… - Posted by Phil-TX
Posted by Phil-TX on December 21, 2007 at 17:13:40:
Ben,
Perhaps your state has a redemption period…check into it. If the property is in Texas there is a six month redemption period for non-homestead property and 2 years for homestead property. The redemption amount is cost + 25% per year.
I hope for your sake there is some sort of redemption period.
Best wishes for solving this problem,
Phil
This is now about your encroachment - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on December 21, 2007 at 15:55:21:
It doesn’t seem to me like you’re negotiating from a position of strength.
Perhaps you’d do well by spending money on a good real estate attorney before you inadvertantly alienate your new landlord. That’s right! You can expect MANY ten’s of thousands of dollars in fighting (and defending) this kind of lawsuit based on your own acknowledgement that you failed to monitor the payment of taxes (and the tax problem didn’t mount up over night, either).
Sometimes we just have to turn into supplicants and ask for help. In your case, you’ll need a third-party legal professional unless you can convince the buyer that your are of the “Waco, TX” or “Ruby Ridge” mindset, or that you’ve been buying Plutonium 32 nuclear waste under his side of the house.
Re: Tax Sale… - Posted by Ben
Posted by Ben on December 21, 2007 at 17:35:16:
Thanks Phil!
Unfortunately, redemption period over…
Any other thoughts??
Re: Tax Sale… - Posted by Phil-TX
Posted by Phil-TX on December 22, 2007 at 17:55:40:
Ben,
At least you’ve got some knowns of your costs to cure your problem at this point, between $1,000 and $10,000 above what the guy paid at the tax sale (if he is still willing to take the $10k).
The other options are a crap shoot.
The $10k is probably your cheapest option.
If it were me, I would try to negotiate the price down, if possible. But if you detect this guy isn’t going to budge, I would pay up before the price goes up if it were me.
Going to court is not going to be in either party’s interest in my opinion.
Hope it turns out well for you.
Phil
Re: Tax Sale… - Posted by Bill H
Posted by Bill H on December 21, 2007 at 23:17:12:
According to information available to me…if you chose to go to court the scales are about 60/40 in your favor.
ALL…depends on the judge. He is SURE to ask you if you got the notice(s) and you, being under oath, will have to respond.
THEN: if the new owner presents your post here admitting you failed to read the tax notice(s)…you are almost certain to lose.
AND: you will immediately have several more problems to deal with.
I’d probably do like Rick, The Probate Guy says and negotiate the best price I could get from the new owner, chalk it up to expereince and move on.
Good Luck,
Bill H
Re: Tax Sale… - Posted by Rich-CA
Posted by Rich-CA on December 22, 2007 at 15:07:19:
And the quality and bias of the judge will depend on what area you are in as well.