Are you experiencing delinquent property taxes in San Antonio? If so, you might be nervous about losing your home or coming up with the cash to pay your back taxes. The good news is that you have solutions available to you! Learn more about how to handle your difficult property tax problems in our latest post!
Dealing With delinquent taxes can be a nightmare. The costs can snowball quickly. What starts as one small debt, can quickly rack up fees, penalties, and even interest. Getting behind on your property taxes will have major impacts. After all, it is these taxes that pay for the infrastructure for your city and beyond. Not paying them will have severe penalties. In some cases, you can even lose your house to foreclosure!
What Might Happen in Bexar County
When your taxes go unpaid for too long, the county will record a lien against your property until the funds are payed in full. Eventually, the county will auction your property at a tax forclosure sale and you will be forced from the property until you pay the taxes and a 25%-50% penalty. After 12-24 months, you no longer have the right to redeem your property and it will be lost for good. Of course, it takes quite a while to get to this point, but losing your house is a real threat of delinquent property taxes. It is extremely important that you take the appropriate steps in order to keep from going through property tax foreclosure.
Some Steps You Can Take
You have a few options when you are facing delinquent property taxes. The first and most obvious choice would be to pay them back. However, this can be easier said than done when you have struggled to pay them in the first place. You can choose to get a loan to pay off the taxes, but then you are simply replacing one debt with another as well as adding in all sorts of fees and high interest. However, this might be an option if you are on the brink of losing your home to a foreclosure. Even if you can only make payments toward your debt, the county might be willing to work with you before auctioning off your house to the highest bidder.
You can also try to lower the amount the property assessor has valued your home. Make sure they have all of your property data correct and look at what they assessed in comparison to what properties in the area are selling for. If you see a something that seems off, take it up with the appraiser and see how you might get your taxes lowered. Getting them lowered may be a somewhat of a challenge. Before you call the appraisers office, collect all relevant data so you can go into it prepared and informed. Remember, this option is great for the future taxes but doesn’t do anything to resolve a tax bill that has already gotten out of hand.
Your third option would be to work with a reputable home buyer who is willing to help you tackle the liens and back property taxes you are facing. When working with a private buyer, make sure you are still receiving a fair price, no matter how desperate your situation might seem, you should always be treated fairly and receive a fair and honest price.
How Capstone Homebuyers Can Help
Capstone Homebuyers is a team of professional homebuyers who can help you by purchasing your home outright. We will take care of the back taxes, liens and anything else that is stopping you from selling the house in the traditional manner. Our easy 3 step home buying process means you don’t have to feel stuck, burdened or feel exhausted by the amount of property tax debt you are facing. We have worked with people all over the San Antonio area who were dealing with property tax problems. (Just check out our testimonials to hear it directly from them) Let us help you by using our knowledge and expertise to get you out of the situation fast!