 Tax sale vs sherriff sale (by Molly [PA]) Aug 26, 2012 10:59 AM
 Tax sale vs sherriff sale (by NE [PA]) Aug 26, 2012 11:03 AM
Tax sale vs sherriff sale (by 574brad [IN]) Aug 26, 2012 11:11 AM
Tax sale vs sherriff sale (by Tom [FL]) Aug 26, 2012 12:38 PM
Tax sale vs sherriff sale (by George [NJ]) Aug 26, 2012 12:51 PM
Tax sale vs sherriff sale (by pattyk [MO]) Aug 26, 2012 1:02 PM
Tax sale vs sherriff sale (by Mike45 [NV]) Aug 26, 2012 1:13 PM
Tax sale vs sherriff sale (by Jason [PA]) Aug 26, 2012 1:16 PM
Tax sale vs sherriff sale (by Mike SWMO [MO]) Aug 26, 2012 8:33 PM
Tax sale vs sherriff sale (by don [PA]) Aug 26, 2012 9:08 PM
Tax sale vs sherriff sale (by Nicole [PA]) Aug 27, 2012 8:49 AM
Tax sale vs sherriff sale (by Nicole [PA]) Aug 27, 2012 8:49 AM
Tax sale vs sherriff sale (by Jason [PA]) Aug 27, 2012 9:57 AM
Tax sale vs sherriff sale (by proofstyle [PA]) Aug 28, 2012 2:12 AM
Tax sale vs sherriff sale (by don [PA]) Aug 28, 2012 8:41 AM
Tax sale vs sherriff sale (by Melanie Webster [PA]) Jan 30, 2013 9:38 PM
Tax sale vs sherriff sale (by Molly [PA]) Posted on: Aug 26, 2012 10:59 AM
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I know you guys will know. I've been trying to do research and not finding much.
What's the difference between a tax sale and a sheriff sale? Which one are you responsible for liens???
Thanks
--74.98.x.xxx |
Tax sale vs sherriff sale (by NE [PA]) Posted on: Aug 26, 2012 11:03 AM
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Tax sale is sale of property for non-payment of property taxes. Sheriff sale is sale for non-payment of mortgage or other possible court ordered sale. You could be responsible for other liens on both. --208.111.xxx.xxx |
Tax sale vs sherriff sale (by 574brad [IN]) Posted on: Aug 26, 2012 11:11 AM
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NE is correct. I'll add that the rules are very locally specific. In IN, the rules vary greatly between counties. --173.148.xxx.x |
Tax sale vs sherriff sale (by Tom [FL]) Posted on: Aug 26, 2012 12:38 PM
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Molly of PA, I caution you when buying a tax sale property the tax claim bureau deed is NOT a clear deed. The Sheriff Sale depends on if its a first, second or third mortgage that is being foreclosed on.
I highly suggest you talk to a real estate attorney in your area. Let me repeat that you need to talk to a real estate attorney in your area. IF you buy a propperty without checking it before you buy it, you may have some real problems with it. BUYER BEWARE!!! --99.56.xx.xxx |
Tax sale vs sherriff sale (by George [NJ]) Posted on: Aug 26, 2012 12:51 PM
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Molly, Check out the website for the county your interested in for their tax claim office. They have different levels of sales, first second, etc. The first level has leins, the last one is sold clear, but usually has no value anyway, unless it is next door property to you.
When I was 18, about 27 years ago I bought (4)worthless property at a PA tax sale, no leins but property was not buildable and was in a "community" with mandatory dues. I was a dopey kid and didn't know any better. I let them go back for taxes. --71.48.xxx.xxx |
Tax sale vs sherriff sale (by pattyk [MO]) Posted on: Aug 26, 2012 1:02 PM
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where i live, properties that go thur the tax sales and are not sold are classified as Sheriff's Sale Properties. They can be bought 'over the counter' or right then an there. The sheriff's department has a full book of the properties available. Most are listed only by legal descriptions. Not much information. Buyer beware. However I know a few people who bought vacant or adjanting land to their properties this way without issue. There is no one to help you with this, other than perhaps a title company, which cost money. And by the time you return the property could no long be available. It's a fun treasure hunt if you find something, the tax liens have been forgiven, so none of that mess, just cheap, cheap and usually worthless... the book i looked at a few years ago had property going back to 1940! Some land was 'land locked" some were other properties with hazards, as in perhaps there was an oil spill there or an location of a gas station as such... i didn't find anything over the three years I looked. --173.143.xxx.xxx |
Tax sale vs sherriff sale (by Mike45 [NV]) Posted on: Aug 26, 2012 1:13 PM
Message:
Generally speaking, a tax sale is based on back taxes, and the property is bought subject to all liens and encumbrances.
Generally speaking, a Sheriff's Sale is a foreclosure sale on one of the liens against the property. All liens that are junior to the one being foreclosed upon are wiped out. All liens senior to the one being foreclosed upon remain.
In either case, you also have to worry about any right of redemption that might exist, pursuant to which the old owner can come back and reclaim the property.
--67.233.xxx.xxx |
Tax sale vs sherriff sale (by Jason [PA]) Posted on: Aug 26, 2012 1:16 PM
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Look up brad dornish he sells inexpensive information state specific on the subject --208.54.xx.xxx |
Tax sale vs sherriff sale (by Mike SWMO [MO]) Posted on: Aug 26, 2012 8:33 PM
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What an education this post gives. I guess I need to start worrying. I was sure there were other ways tax sales were dealt with and I am seeing them here.
Pattyk (MO). Let me guess. You either live near St Louis or KC.
Every state, every county may be different. I see a difference within my own state in different counties. It all depends on the collector selling the delinquent land tax property. Most do not adhere to the state statutes. You have to call their hand when they make a mistake.
I don’t know a lot about sheriff sales but I usually buy between 20 or 30 tax sales certificates every year. Most are redeemed but sometimes you get pork chops and sometimes you get lobster. Lots of fun (to me). Sometimes I even get my money back.
Our tax sales are tomorrow and I have about 26 properties picked out I want to bid on.
You just got to jump in and get your feet wet if you want to do the sales.
--162.40.xx.xxx |
Tax sale vs sherriff sale (by don [PA]) Posted on: Aug 26, 2012 9:08 PM
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In Phila there are sales for properties with back taxes and sales for properties with foreclosed mortgages, and they are both types of "Sheriff's Sales." On a foreclosure sale, if the foreclosed mortgage is not in the first position, the sale will not erase any mortgages superior to the one which was foreclosed on. The Phila. auctioneer notes this, but don't count on your auctioneer doing the same; you could buy a house with a large mortgage surviving. With tax sales, if the house was occupied the debtor has a year from the sale to pay back the amount he owed and reclaim the house, so you can't give clear title for a year and risk losing the cost of any nonessential renovations that you did. --69.248.xxx.xx |
Tax sale vs sherriff sale (by Nicole [PA]) Posted on: Aug 27, 2012 8:49 AM
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Don, is that redemption a Philadelphia area requirement? In most of the state, there is no redemption - if it's not sold at the first auction (subject to liens) it goes to the second auction where it's sold free & clear - there is no redemption, owner occupied or not.
I do know that Philadelophia does things differently than the rest of the state so I'm curious. --72.95.xx.xxx |
Tax sale vs sherriff sale (by Nicole [PA]) Posted on: Aug 27, 2012 8:49 AM
Message:
Don, is that redemption a Philadelphia area requirement? In most of the state, there is no redemption - if it's not sold at the first auction (subject to liens) it goes to the second auction where it's sold free & clear - there is no redemption, owner occupied or not.
I do know that Philadelophia does things differently than the rest of the state so I'm curious. --72.95.xx.xxx |
Tax sale vs sherriff sale (by Jason [PA]) Posted on: Aug 27, 2012 9:57 AM
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Nicole, there is no redemption period, however the seller that lost property to unpaid taxes can sue and get property back, actually quite easily. It almost happened to me at a lien free judicisl sale, and it has happened to a freind many times. This is why title insurance is almost possible to get after buying at tax sale --208.54.xx.xxx |
Tax sale vs sherriff sale (by proofstyle [PA]) Posted on: Aug 28, 2012 2:12 AM
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Two or three years ago Berks REIA had a presentation by a title insurance company owner. He explained that there are two types of "tax sales" whether the complainant is a government entity or a third party collector. He will gladly write insurance for one, but not the other (I can't remember which.)
Looking at Sheriff's Sale lists I have seen some page headings specify there may be a redemption period. It must exist in those counties (outside Phila). --68.83.xxx.xx |
Tax sale vs sherriff sale (by don [PA]) Posted on: Aug 28, 2012 8:41 AM
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Nicole--In Phila. the tax delinquent property is put up for sale once. If someone buys it they get it without liens but with the right of redemption of the previous owner in place if that owner was residing there. Within one year the previous owner can reimburse all taxes and costs, as well as any money that the buyer spent on NECESSARY repairs and reclaim the property. If the property does not sell at the first sale it is not offered at a second.
Phila. really is its own world. Here, there are so many tax delinquent properties that only a tiny percentage are put up for sale---a great number would bring no interest and the sale would be weeks long. Also, most counties where you see "lien sale" advertised, it means that they are selling tax liens. Here, it means that they are selling PROPERTIES which have liens that another entity had already purchased. --70.192.xxx.xxx |
Tax sale vs sherriff sale (by Melanie Webster [PA]) Posted on: Jan 30, 2013 9:38 PM
Message:
Hello I live in reading pa. And on December 7 I purchase a property from the sheriff sale. Free and clear. And have a redemption. I did not no wat it mean until now. Cause that was my first time buying a home. Then I came to find out the Omer still live there. Now I'm in a tuff situation. Where she wants to buy back. I would like to no if the redemption law goes to reading pa. / Berks county. I reading all kinds of yes no answer. I'm confuse. --166.137.xx.xxx |
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