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May 25, 2012, 06:03:23 AM

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Real Estate Investing Forums  |  Real Estate Investing  |  Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Redemption period for property tax sale « previous next »
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« on: November 13, 2004, 09:41:24 PM »

I have a childhood friend whos house was sold by auction 1 month ago due to delinquent taxes.  I've searched our county tax laws and have found that the previous owner (my friend) has time to come up with the money and get his house back (6 months).  He was just planning to let it go, but I've offered him 5000 for it and I will pay the taxes plus penalties (around 6000).  He's excited about the prospect (and so am I because comparables are in the 70s) but we're unsure of the process.  Do you guys think that I should have a lawyer handle this or is it something that can be done through the county clerk's office rather simply?

Also,
Will the original owner be responsible for the price that the property went for in the auction or is he only responsible for his back taxes plus the 25% penalty?

I need to move on this FAST so any advice you have for me would be great.

Thanks in advance,
Patrick
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Real Estate Investing Forums  |  Real Estate Investing  |  Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Redemption period for property tax sale « previous next »
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