LandInvestors.com Forums **Ask A Question** Can I buy a property with a tax debt and pay the owed taxes afterwards ?

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  • #29811
    john
    Participant
    Post count: 20

    There is a vacant lot in Lafayette, Louisiana with
    “Tax Sale Status: SOLD. Call the office for redemption balance information”
    I am interested in buying it – I will not be using a title co, the deed for signing and the check for the seller will be delivered by a mobile notary.
    Does the tax situation need to be resolved by the owner redeeming his property before I purchase it or can I buy it as it is and pay the taxes afterwards.
    Thank you

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  • Kevin Farrell
    Moderator
    Post count: 2176

    John – you need to read up on buying Tax Sale Properties. In most states there is a redemption period where the previous owner can come back and purchase the property for the cost of back taxes and penalties that were accrued. The only time I have purchased these properties was when they were past the redemption period with no risk of a previous owner coming back to claim it.

    Kevin Farrell - Moderator
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    Schedule a 60 minute call - https://calendly.com/kevin-629

    john
    Participant
    Post count: 20

    Thank you Kevin. So once the land is redeemed by the owner/previous owner I can safely purchase from him,- that is how I understand it.

    Kevin Farrell
    Moderator
    Post count: 2176

    John – No, usually the previous owner never redeems the property. An investor buys the property at the Sheriff’s Auction and that begins the redemption period. This can be 3 to 5 years depending on the county. During that redemption period, the investor tries to sell the property. Any buyer is at risk of the property being redeemed by the original owner until the redemption period is completed.

    As I said, please read all you can about buying tax delinquent properties.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 60 minute call - https://calendly.com/kevin-629

    john
    Participant
    Post count: 20

    Kevin, thank you again for taking your time to reply but I have understood it correctly.
    I am in touch with the original owner, he intends to redeem the property and I am waiting for it to be done and then to buy it from him.

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