Owners Reclaiming Homes After Tax Sale

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Owners Reclaiming Homes After Tax Sale

Erica Williams
Houston, TX · Member since 2017 · 19 posts · 6 votes

Hello,

I am in Houston, Texas. I visted the tax accessors website about sale tax homes.

Further, I discovered that the homeowner has the right to claim their home after the investor has purchased the home at the tax sale. If the home is not homestead, homeowners have until 180 days to reclaim their property. If the home is homestead, homeowners have 2 years to claim their property.

Most importantly, will I get my money back from the tax assessor, homeowner, or neither? 
I would have just lost money?
The tax assessor office website failed to publish the answers to my questions.

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Arnie Abramson
Texas Tax Sales Services · Merit, TX · Member since 2014 · 256 posts · 166 votes
9y

She said she was in Texas.  Texas is a tax deed state.  You are buying the property,

3Reply
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  • Bob Okenwa
    Real Estate Agent/Investor · Peoria, AZ · Member since 2016 · 2k+ posts · 2k+ votes
    9y
    In Phoenix, you get your money back with interest if the homeowner pays the tax bill current
    2Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    9y
    Erica Williams you should get your money back plus interest owed. They will not keep your money
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    2Reply
  • Collin Garbarino
    Investor · Sugar Land, TX · Member since 2017 · 97 posts · 71 votes
    9y

    A tax lawyer in Houston told me that their right to redemption is subject to a 50% penalty which is a nice return for the investor.

    2Reply
  • Arnie Abramson
    Texas Tax Sales Services · Merit, TX · Member since 2014 · 256 posts · 166 votes
    9y

    The homeowner redeeming the home will pay you the money.  You are entitled to your purchase price plus 25% if during the first year.  You also are entitled to repayment of certain other costs plus 25%.  Send me a PM and I will guide you through the procedure.

    2Reply
  • Erica Williams
    OP
    Houston, TX · Member since 2017 · 19 posts · 6 votes
    9y

    Thank you all!! That is great to know I will not lose money because purchasing a home without inspecting the interior and exterior is risky enough.

    2Reply
  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
    9y

    You are looking at it from the wrong angle .   By paying the taxes you are buying a lien on the property , you are not buying the property . You get interest on the money . IF the homeowner doesnt pay , you can start to basically foreclose on the house .  95 % of the time the people pay .

    Now there are some weird properties like swamp land , that you could buy and the people wont pay , then you look at the property and realize it is basically worthless and you are out the cash because you dont foreclose on it . 

    There is a property around the corner from me that is 2 acres , on the water , it sells every 2 years and some idiot starts to foreclose , but when they search the deed ,  its a permant conservation easement , has wetlands and you cant do anything with it .  The guy that owns it hasnt paid taxes on it for 20 years , he lets someone else do it thinking he will pay them . 

    0Reply
  • Arnie Abramson
    Texas Tax Sales Services · Merit, TX · Member since 2014 · 256 posts · 166 votes
    9y

    She said she was in Texas.  Texas is a tax deed state.  You are buying the property,

    3Reply
  • Erica Williams
    OP
    Houston, TX · Member since 2017 · 19 posts · 6 votes
    9y

    @Matthew Paul. I do not believe all tax accessors work the same for ever county. Therefore, I think the information is contrary according to other inverstors who have responded to my question. Most of them appear to be knowledgeable about Tax Sales and on similar paths. However, I do appreciate your input.

    1Reply
  • Carolyn Morales
    Investor · Jacksonville, FL · Member since 2015 · 504 posts · 217 votes
    9y

    In Florida, We buy the tax deed and own the property. Every state has statutes on tax sales and it's procedures. Do a search on Texas Tax deed sales , statutes. Every County has to follow the State statute on it. 

    0Reply
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