Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

What should i pay besides the bid in a Tax resale auction in…

Customer Question
What should i pay besides...
What should i pay besides the bid in a Tax resale auction in harris county, tx?!
Submitted: 6 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 10 minutes by:
12/4/2017
Tax Professional: Barbara, Enrolled Agent replied 6 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,167
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

The bidder must pay at least the statutory minimum bid, which is set at the lower of:

 adjudged value or judgment value – value of the property at the time the judgment is taken

 the total of all amounts awarded in the judgment, including costs of suit and sale

The following link contains excellent information which you will find helpful:

https://www.hctax.net/About/Announcements/Tax%20Sale%20Bidders%20Auction%20Guide.pdf

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Ask Your Own Tax Question
Customer reply replied 6 months ago
Barbara, first thank you for your anser.
What i need yo know if there could be other values besides the bid i give (supposing its the winning bid) pkus the after judgement taxes. In the website of the attorneys (www.publicans.com) they have the list of properties for sale and resale. The resale properties have an assessed value, an est. minimum bid, and also an struck off amount. This last value tha appears in the infos of the property that concerns me. As it is a resale (with new lower minimum bid amount) com I consider that this struck off amount is the total debit prior to the judgement that will be eliminated by my winning bid (just acruing post judgement taxes) or it could be other taxes or fees that i will have to pay besides my bid and post judgement taxes?
Tax Professional: Barbara, Enrolled Agent replied 6 months ago

In Texas,

Resale properties were struck off to the taxing entities and are scheduled for a resale usually at a lower opening bid.

​Properties that went to a Sheriff's Sale and were not sold are called struck-off properties. The owner of the property is now the taxing unit(s). When the property is bid, or struck-off to the entity, the deed will be made out to the taxing entities, and filed with the County Clerk's office.

These properties may be sold through a private bidding process if all taxing entities with a claim on them agree and approve offers from prospective buyers.

Ask Your Own Tax Question
Customer reply replied 6 months ago
Barbara, what I want to know is the amount I will have to pay in an auction. For example: if that is a court judgment saying that the amount due from 2000 to 2016 is 50,000 and the judgment date is 02/05/2017, and the minimum bid in a resale is 5,000 could I assume, by the rules of Texas code, that the taxes between 2000 and 2016 will be eliminated with the winning bid ( of the minumum - 5,000 or other higher value)? That may be due other years of taxes (that not 2000 to 2016) and other liens, but not the ones in the judgment?
Tax Professional: Barbara, Enrolled Agent replied 6 months ago
Ask Your Own Tax Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
586 Satisfied Customers
Experience: 10 years experience

Wallstreet Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,567 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
I have a 20 year old lien filed against me from the
I have a 20 year old lien filed against me from the department of workforce what do it need to do to get ride of it … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,567 satisfied customers
Have a federal tax lien but installment agreement in place
have a federal tax lien but installment agreement in place can i trade my vehicle since I have the title … read more
Tax.appeal.168
Tax.appeal.168
Principal
13 satisfied customers
I have a question regarding irs tax liens. Michigan. I
I already have an irs tax lein and I am in process of buying a home with a land contract so I have a question on whether the irs will be notified of that and how it can affect me … read more
Barbara
Barbara
Enrolled Agent
6,167 satisfied customers
What is the rule on capital gain exception concerning
What is the rule on capital gain exception concerning selling your house. … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Supreme court's ruling on paying taxes on mans labor.
supreme court's ruling on paying taxes on mans labor … read more
Carter McBride
Carter McBride
LLM
1,150 satisfied customers
I have sate tax lien that are more than seven years old and
I have sate tax lien that are more than seven years old and they are active how long a state tax lien stay active in ohio and can I buy a house with those liens active ?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,567 satisfied customers
I have a tax lien for $53,000 and am selling a second home
Hi I have a tax lien for $53,000 and am selling a second home and will have some equity after the mortgage is paid off. What do I need to get from the IRS to have for the title company to transact the… read more
Barbara
Barbara
Enrolled Agent
6,167 satisfied customers
If a federal tax lien is in place. Will anypay back be
If a federal tax lien is in place. Will anypay back be garnished. … read more
Carter McBride
Carter McBride
LLM
1,150 satisfied customers
An outstanding tax lien I showing on our credit report. It
An outstanding tax lien I showing on our credit report. It was satisfied long ago. How do I document this? … read more
Barbara
Barbara
Enrolled Agent
6,167 satisfied customers
We owe property back taxes and. Are subject to a lien sale
We owe property back taxes and. Are subject to a lien sale in June. We own our home outright, but I lost my job and had a hard time getting.g a new one. Poor credit, can't qualify ...need advice … read more
Barbara
Barbara
Enrolled Agent
6,167 satisfied customers
I have a question about tax liens. I applied for a home
I applied for a home equity loan and the responded no as I have a tax lien however, I ordered a full 3 report from the credit bureau as well as the irs transcrips and a full background check and can't find any information. … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Does 1250 depreciation recapture rules apply if a property
Does 1250 depreciation recapture rules apply if a property is sold at a loss AND depreciation was not taken on the property. The difference between the adjusted basis (had depreciation been taken) and… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
According to federal income taxes rules, can a non-
According to federal income taxes rules, can a non- custodial parent fund a bank account with pre-tax dollars to pay child support … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,567 satisfied customers
What is the tax benefit rule? What is the Tax Benefit Rule?
What is the tax benefit rule? JA: The Accountant will know how to help. Please tell me more, so we can help you best. Customer: What is the Tax Benefit Rule? JA: Is there anything else important you t… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
What are the tax rules for a withdrawal in a UTMA account? I
what are the tax rules for a withdrawal in a UTMA account? I am the custodian for my son's account and I withdrew $ to pay for his college tuition. I assume I report this withdrawal amount in my taxes… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
The IRS placed an alter ego lien on a company commercial
The IRS placed an alter ego lien on a company commercial property two years ago. I have a contract to sell the property. How may I ask the IRS to release the lien for the sale to take place? The IRS h… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
How to get a personal Arizona State Tax lien released that
How to get a personal Arizona State Tax lien released that is no longer collectible? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,567 satisfied customers
New tax rules Taxpayer owns several rental properties. Does
New tax rulesTaxpayer owns several rental properties. Does the $10K tax limit apply to the real estate property tax associated with each rental property? Or is it just for schedule A state and local t… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x