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  • Writer's pictureDaniel sisto

Can I Sell My House If I Have Back Taxes in Syracuse NY?

Sell house Syracuse NY Property Taxes

Are you having trouble paying your taxes on your home in Syracuse NY?

When it comes to paying property taxes, your county or local municipality has a big stake in collecting these funds to meet it's budget. These local governments do not look kindly upon homeowners who fail to pay their property taxes and will take the necessary precautions to ensure they receive this money.

These property taxes are used to finance county and municipal services. Certain places in Syracuse NY have hefty property taxes and can sometimes become difficult to pay. Throughout our lives we may experience financial troubles that prevent us from paying our taxes or maybe even falling behind on our taxes. The problem with this is that, the longer we fail to pay our taxes the more interest that accrues and the more money we will be forced to pay when it comes time to pay our share.

So if you fail to pay your property taxes, your local taxing authority can file a lien on the property and then sell your property to recoup these costs.

Delinquent Property Taxes in Syracuse NY

If you fail to pay your property taxes in Syracuse NY, your local or municipal tax district can place a lien on your property if you do not pay these taxes in a certain amount of time. The lien will be filed with the county's clerk office. This will give the county a claim to your property as security for these unpaid taxes. Once their is a lien on your property, the clock will begin ticking for you to either repay these delinquent taxes or establish a repayment plan with the county in order to recoup these costs. Typically in Syracuse NY, the county will allow up to 3 years of unpaid taxes before they decide to move forward with an auction and sell your property. If you do find yourself in this situation and are unable to pay your property taxes, then we suggest acting immediately. The longer you wait to act, the harder it will be to pay and it will also be harder to convince the county to take on a repayment plan.

How A Sale Works When I Owe Property Taxes in Syracuse NY?

When you fall behind on your taxes, you can still sell your house before the county decides to foreclose on the property. Once you find a buyer and agree on a purchase price, the proceeds of the sale will be determined by what you sold the property for (purchase price) and how much money in taxes that you owed.

Lets go over a quick example, to make it simple, we are not going to include any additional fees (closing costs, lawyer fees, commissions)

You have failed to pay your taxes for a year and a half. You have decided that it is time to sell. You currently owe $10,000 in taxes. You put your property on the market for $100,000. You find a buyer and you begin the closing process. Once the closing process is over and you have officially sold the house, you will net $90,000 on the sale of your property.

Where property taxes can get tricky is that if you continue to wait to act on your unpaid taxes, you can be put in a situation where you need to sell your property fast and this can become a big issue. So as we stated before, it is best to act fast and accordingly when you become aware that you will be unable to pay your property taxes.

Wrapping Up | Can I Sell My House In Syracuse NY With Back Taxes

I hope we helped you understand that it is very possible to sell your house with back taxes. The taxes that you have accrued over the time frame of being delinquent will be deducted from the sale of the property prior to closing. The longer you wait to pay these taxes, the more interest that will accrue and the harder you will find it will be to pay off this debt.

If you find yourself in a position where you have failed to pay your taxes for 2-3 years, we have an option for you. At this point in time, you will be on the clock and foreclosure will be knocking on your door. Foreclosure has the potential of killing your credit and may effect your life for the next 7-10 years. As we stated previously, when this point comes, you will be forced into a position where you need to sell your house fast. This is where our service comes into play. We are a local real estate investment firm, who purchases properties in cash and has the ability to close in as little as 14 days. So no matter how close you are to that auction date, give us a shout and we may be able to help you avoid that dreaded auction date. If this is something you may be interested in either give us a call at (315)516-8023 or you can start the simple process below.

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