I kind of need some help with a personal issue. My fiancé and I have been talking about getting his now deceased grandfather's property in our name and fixing It up for us. Today, we checked the mail and there was a foreclosure notice in the mail. Unfortunately, his grandfather couldn't pay last years taxes before passing.
My question is, is there any hope for us? We don't have the money to pay off the certificate. Is there anything that could work in our favor. I've learned that if they were to foreclose and they bid higher than what the backed taxes were, that they would have to pay that bid amount to the rightful owner. How does that work? Is there any way I can check for the bid amount or any other valuable information pertaining to it?
You should only be responsible for the taxes owed to make it current, interest, and fees. If it were a premium style auction anything paid by the lien cert holder above the taxes the county will return to the lien holder. Call and talk to someone at the courthouse.
I've bought many tax liens in Baltimore City, as has @Ned Carey.
If the bid is high enough to make you happy to sell, then the lien holder can be stuck with the lien. You will not be able to finance or sell the property for a while, though.
If the bid is lower than you "sell it" price, you will want to take action before they add even more legal fees.
Contact me [email protected] and I will see what I can find out.