COMMERCIAL PROPERTY ABOUT TO BE FORCLOSED ON. I'M LOOKING AT A PROPERTY ABOUT TO GO UP FOR AUCTION.

Asked 5 months ago - Buffalo, NY

CAN I PAY THE TAXES ON IT BEFORE IT GOES UP FOR AUCTION,AND CREATE MY OWN LIEN. I AM NOT THE OWNER AND THIS IS BUFFALO,N.Y.?

Attorney answers (3)

  1. Arthur Wemegah

    Contributor Level 15

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    Answered . No, you cannot pay the taxes to stop the sale and put a lien on the property that will supersede another lien holder's interest. Why not simply buy it at the foreclosure sale?

  2. Mitchell Aaron Nathanson

    Pro

    Contributor Level 15

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    Answered . If there is a tax lien sale, then you can bid. Otherwise, no.

    I do NOT know you. I am NOT your lawyer. This answer is provided for the general public who may have similar... more
  3. Shawn B Alexander

    Pro

    Contributor Level 20

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    Answered . I agree with the previous answer and why take a chance that your tax payment will be lost. At the tax sale you can at least be sure that you will have some ownership rights. However due diligence is the key to success in a tax sale. Get a title report, inspect the property, pay a certified building inspector and talk with the neighbors. Neighbors can be a valuable resource when bidding on tax sale property. They may give you insight you just can't get anywhere else.Set a budget and do the numbers too many times I see buyers who did not understand what they would be responsible for after the auction.
    Good Luck

    Please be sure to indicate the best answer. If this answer was helpful, please mark as helpful below. Only. If... more

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