I live in WI. I own my house outright, no mortgage. Buy way behind in real estate taxes.But the house is worth much more than taxes, but can not get a loan for other reasons. If it came down to a forced sheriffs sale of my house for the taxes, who gets the money over the amount of taxes due?
The short answer is yes, but the trouble is the house will be sold at auction and will not likely fetch nearly the price you could hope to get for it on the open market. Additionally, I believe the costs of the litigation and the sale will be assessed to you, meaning you will receive even less than you expect. If you are going to lose the house, you should be trying to get top dollar for it so you can pay your taxes and have as much money left over as possible. To get a more knowledgable answer, you should consult with a local real estate attorney. The few hundred dollars that might cost will be a good investment.
Please mark answers you appreciate with positive feedback!<p><a href="http://www.msm-law.com/nicholaspasse.html">Attorney Nicholas J. Passe</a><p><l>Disclaimer: Per the avvo.com community guidelines, no attorney/client relationship is created by the asking or answering of questions on this web site, nor do the answers constitute legal advice. Always hire an attorney before making any important legal decisions. Posting details of a case on avvo.com may be subject to discovery in criminal or civil litigation, so erring on the side of nondisclosure is wise.<p><a href="http://www.msm-law.com">Moen Sheehan Meyer, Ltd.</a>
Attorney Passe's answer is correct. In order to get top dollar for your house, your should be prepared to sell it yourself, before any foreclosure sale for back taxes. I would suggest that you contact a realtor familiar with your neighborhood and get an honest idea from such realtor as to the probable sales price of your house. If you sell it yourself, you will avoid the litigation costs that will be assessed against you and you will avoid the depressed price you would get at an auction. You will still have to pay the back taxes out of the sales proceeds, but you would get much more than you would from a sheriff's auction.
THESE COMMENTS ARE NOT LEGAL ADVICE and are merely intended to answer a question posted on an AVVO question board. Such answer is not intended to nor does it create an attorney-client relationship. Mr. Kornis is licensed to practice law in the state of Wisconsin and maintains an office in Milwaukee. Mr. Kornisâ€™ telephone number is 414-224-0600. Mr. Kornis is an attorney at Mawicke & Goisman, S.C., with a website at http://www.dmgr.com.
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