Sheriffs sale

[tooleman]

Has anyone here bought a house or land from a sheriffs sale??? What I would like to know is everything I need to do before the sale. There is a property that I like how can I find out the Liens and back taxes owed???

 

[jd4320t]

Has anyone here bought a house or land from a sheriffs sale??? What I would like to know is everything I need to do before the sale. There is a property that I like how can I find out the Liens and back taxes owed???

Aren't they posted in the county courthouse?

 

[E5RANGER375]

yeah I think you can call the treasurers office (i think its the treasurer) or even do it online. thats for taxes.

as far as liens, good luck, honestly. you would have to check with each county clerks office probly.

usually you can run an add and they have 30 days to reply i think.

 

[dwh79]

I could be wrong but if it is in a tax sale then the delinquent tax payer has a year to pay the taxes and get there house back I do believe. Then if you had bought it I don't know if you are just sol or what.

 

[E5RANGER375]

I could be wrong but if it is in a tax sale then the delinquent tax payer has a year to pay the taxes and get there house back I do believe. Then if you had bought it I don't know if you are just sol or what.

buy foreclosed houses at auction. its well worth it. $$

 

[jdude]

Can't offer much help on tracking down leins etc. but I do know you have to go in to the sale with cash or certified funds. I bought my house this way and was told that once the "auction" is over you are required to pay immediately, no " i'll be right back with a check". I had pre-arranged with my banker friend that he would go to the sale with me and bring a blank certified check, he told me what the bank would bid to "buy " the house back and I only had to raise them by 1 dollar and if no other bids were entered I won. It was really very quick and simple and took about 10 minutes.

 

[dwh79]

I don't have that kind of disposable income. Wish I did though. Probably would have that kind of money if I wasn't married and have a 8 year old daughter.

 

[CountryBoy19]

I could be wrong but if it is in a tax sale then the delinquent tax payer has a year to pay the taxes and get there house back I do believe. Then if you had bought it I don't know if you are just sol or what.

IIRC, the previous owner has 1 year to repay back taxes, liens, and the purchase price to the respective people. That is why most properties sold in sheriff's sale sit vacant for 1 year plus. If you go in, fix up the property, and the previous owners comes back and pays the debt then you're SOL.

OTOH, if you don't put anything into the property then the previous owner pays those debts you're out only you time (IIRC they do have to pay interest at a very fair rate).

There is a house 2 doors down from me that is in the middle of that right now.This fall that 1 year period will expire and hopefully it will then become occupied and we can lose an "eyesore" in the neighborhood.

 

[indymps6]

You can always check the status of real estate taxes on a particular parcel by calling the County Treasurer's Office. You will have to have the parcel number. It is amazing the amount of help you can get if you actually go to the court house/government center and talk with the staff.
As to other liens, you have some options. First, if the property is in Sheriff's Sale due to a foreclosure, try and find out the underlying Cause Number in the county in which the property is located. In a foreclosure action, the plaintiff should (have) named every party that may have an interest in the property as a defendant. Go the court clerk's office and ask to take a look at the file. You should be able to get a good idea of the potential lien holders. If it a Sheriff's Sale due to non-payment of real estate taxes, the county may have had a title search conducted and such search may be available for review by the public beforehand. You can always have your own search done on the property (may cost a couple hundred bucks).
As far as the process/procedure to be a bidder in a Sheriff's Sale, I would recommend you contact the Sheriff's Office to find out if there are any requirements/pre-qualifications you need to complete/comply with before the sale.
The others are correct that there is a one year redemption period on the tax sale certificate if this a sale due to unpaid real estate taxes. There is no period of redemption with a Sheriff Sale due to foreclosure.
If you are serious about a property and uncomfortable with something as far as lien priority and/or Sheriff Sale process, find a local (to you) real estate attorney. A good attorney should be willing to have at least one free consultation to talk with you about your concerns.
Good luck!

 

[christman]

IIRC, the previous owner has 1 year to repay back taxes, liens, and the purchase price to the respective people. That is why most properties sold in sheriff's sale sit vacant for 1 year plus. If you go in, fix up the property, and the previous owners comes back and pays the debt then you're SOL.

OTOH, if you don't put anything into the property then the previous owner pays those debts you're out only you time (IIRC they do have to pay interest at a very fair rate).

There is a house 2 doors down from me that is in the middle of that right now.This fall that 1 year period will expire and hopefully it will then become occupied and we can lose an "eyesore" in the neighborhood.

They do have one year to come back, but any additions or improvements you do to the property must also be paid by them if it is not removable. Example: detached garage on a foundation. room addition.

Usually most people cant afford to pay to get their home back, even fewer actually do, Im sure the state can count on two hands the people who have been able to buy back a home once improvements have been made on teh lot.

 

[Rookie]

buy foreclosed houses at auction. its well worth it. $$

Not necessarily. I bought a foreclosed house last year. At auction it "sold" for 143k. What happens, at least in my town, is the bank lists the auction price, usually at what is owed. If it doesn't sell, the bank "buys" it and then lists it for sale. I ended up getting my house for 64k.

If you buy a house through back taxes, the owner has so long to pay you plus interest.

 

[deer hunter]

Indiana Sheriff's sales - Indiana Code 32-29-7 - IN.gov: Home

Here is a site that you may find useful.
Indiana Foreclosures and Tax Lien Sales Search Directory - Page 1


When in doubt, call your local sheriff. He or someone at his office will be glad to assist you.