How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ray Your Own Question
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 40669
Experience:  Texas Attorney for 30 years dealing in real estate
8534270
Type Your Real Estate Law Question Here...
Ray is online now
A new question is answered every 9 seconds

I'm looking to purchase a home that was owed by family members.

Customer Question

I'm looking to purchase a home that was owed by family members. The homes property taxes have not been paid for the last 6 or 7 years. The property is now going to be auctioned off by the bank at the county aunction next month at a starting bid that covers the taxes owed on the property. Is it legal for myself to bid on and purchase this property outright?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.
Hi and welcome to JA. I am Ray and will be the expert helping you tonight.
It would be legal for you to bid and buy this property.Since you know the house here you have a great idea what it would be worth, t he good and the bad, etc.
It might be a great way for you to buy the property here from the bank.You would contact the bank about making a bid and participating in the auction.They may want you to pre register here ahead of time.It is worth calling ahead to see what is required to bid at auction.Banks sometimes require a letter that you have sufficient funds available or financing, etc.
I appreciate the chance to help you tonight.I wish you good luck with the auction.Thanks again.
Expert:  Ray replied 1 year ago.
If you can leave a positive rating when we are done is is surely much appreciated.Thanks again.