I have a client wanting to make an offer on a Fannie Mae owned home. I can't find on the local county recorder's web site where any back taxes are owed. If my client's offer is accepted, is there any way he would be held resposible for back taxes? His offer is to include a 10% earnest money check and I want to be able to give him good advice on this matter. Thanks for any help in advance.
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Clayton, NC
THE BUYERS ONLY Realtor since 1996
Here you are only responsible for taxes as of the date of recordation. The seller, even if it's Fannie or Freddie, have to eat the previously owed taxes.
Jan 17, 2011 04:54 PM
Self Employed - O'Fallon, IL
Referrals for O’Fallon, IL & the Metro East
Over here, the seller pays the property taxes in arrears and the proration at closing.
If the county clerk has no website, you can go to the county clerk's office and inquire there. Also, the title search (after contract) will reveal if there are back taxes.
Best of luck.
Jan 17, 2011 05:14 PM
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279
I too would contact a trusted Title Company to do some research for you. You might also check with a local CPA on the tax question.
How have you been? Haven't seen you here in a long while. You have been missed.
Jan 18, 2011 01:31 AM
Murney Associates - Springfield, MO
Thanks Yolanda and Paula.
Paula, one of my new years resolutions is get back to my active rain blogging. It sure beats dieting.
Jan 19, 2011 01:38 AM
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