Back Taxes Owed On Foreclosed Property Might Fall On Buyer
Buying a foreclosed property might include taking ownership of unpaid back taxes. If you buy a foreclosed house with liens or back taxes, you could be held responsible for paying the liens and back taxes upon purchase of the home or property. Buying a short sale should not make a buyer subject to liens or back taxes. Know the difference between a short sale, foreclosed property and an REO property and make sure you research the property to see if the home has any unpaid real estate taxes or liens.