Do you have unpaid property taxes in San Antonio? If so, the resulting consequences can be very difficult and burdensome to deal with. In this article, we will help you learn more about what could be at risk and the solutions that may be available to you!
Depending on the location of your home, how big, and county’s appraised value of your home, your property taxes can become a huge burden. Once you get behind, the penalties and fees start compounding, which makes it even more difficult for you to get out of the hole you are in.
What Might Happen?
The worst case scenario? You could lose your home. You will likely incur penalties, fines and interest should someone buy the tax lien on your home. When you fail to pay your property taxes, the county government will put a tax lien on your property until the balance has been paid. If the debt remains unpaid, the county will eventually auction off the lien to the highest bidder. At this point, you must pay the bearer of the lien the back taxes, plus fees, plus penalties and plus any interest the tax lien bearer has decided to impose. At this time if your house is foreclosed on by the county, you lose the right to occupy the property. From there, your redemption period begins. You have anywhere from 12-24 months to pay all of the back taxes along with the penalties and interest. If you do not redeem, you no longer have a right to get your house back.
What Are Your Options?
There are a some options you have when you have back property taxes in bexar county or the surrounding area. You can pay them, try and get them lowered or work with a direct house buyer who is willing to help you out of the hole you are in. Nobody wants to lose their home, especially to a complete stranger at a foreclosure auction. Before your unpaid property taxes get out of hand, do everything possible to resolve the situation.
Pay The Back Taxes In Full
You can pay them back with the help of a property tax loan. While this might seem like you are switching one debt with another, having the peace of mind that you won’t lose your home, might make it worth it. Keep in mind, you will most likely have fees and penalties that have been added on to your original debt. The entire amount must be paid off in order for the county to remove the lien on your property.
Get Your Payment Lowered
You can try to reach out to the property appraiser to have your property reassessed to lower the appraised value. Examine your tax bill and the amount you have been assessed. If you feel that they have the information on your home incorrect or that the amount you are being assessed is too high in comparison to other homes in your neighborhood, you might be able to secure a lower assessed value. Getting them lowered isn’t always easy. Make sure you have accurate and up to date information about the homes that have recently sold in your area. While
Sell Your Home Directly
A great way to get away from the burdens and consequences of unpaid property taxes is to work with a buyer who will help you to resolve the lien. The team at Capstone Homebuyers will help you evaluate your situation and the solutions available to you. Often times, we are able to help you take care of the lien when purchasing the home. This will allow you to sell the property and walk away unscathed. Property tax problems do not have to mean that you will lose your home. There is a way out!