Are you dealing with delinquent property taxes in Pensacola? If so, you might be nervous about losing your home or coming up with the cash to pay your debt. The good news is that you have solutions available to you! Learn more about how to handle your difficult property tax problems in our latest post!
Dealing With delinquent taxes can be a nightmare. The costs can snowball quickly. What starts as one small debt, can quickly rack up fees, penalties, and even interest. Getting behind on your property taxes will have major impacts. After all, it is these taxes that pay for the infrastructure for your city and beyond. Not paying them will have severe penalties. In some cases, you can even lose your house to foreclosure!
What Can Happen
When your taxes go unpaid for too long, the county will issue a lien against your property until the funds are repaired. Eventually, the city will auction off the lien and you will be forced to pay the taxes or worry about the lien holder foreclosing on you. Of course, it takes a while to get to this point, but losing your house is a real threat of delinquent property taxes. It is important that you take the necessary step in order to keep from losing your house.
The sooner you act the better. There’s 2 factors to consider when it comes to the speed of your action. First, when the county issue a tax certificate, you’re paying a high interest percentage on the taxes were paid by the certificate holder. Second, you become a target to every single real estate investor searching for a property in tax delinquent which will create a hassle for you. You will have more people calling you about your house in tax delinquent.
What You Can Do
You have a few options when you are dealing with delinquent property taxes. The first and most obvious choice would be to pay them back. However, this is easier said than done when you have struggled to pay them in the first place. You can choose to get a loan to pay off the taxes, but then you are merely replacing one debt with another. However, it can help if you are on the brink of losing your home. Even if you can only make payments toward your debt, the county is likely to work with you before selling your debt to the highest bidder.
You can try to negotiate the amount the property assessor has valued your home. Make sure they have all of your property data correct and look at what they assessed in comparison to what properties in the area are selling for. If you see a something that seems off, take it up with the appraiser and see what you can do about getting your taxes lowered. Getting them lowered may be a bit of a challenge. Before you call the appraisers office, collect all applicable data so you can go into it well prepared and well informed.
Your third option would be to work with a buyer who is willing to help you tackle the liens and back property taxes you are facing. When working with a private buyer, make sure you are still receiving a fair price, no matter how desperate your situation might seem, you should always be treated fairly and receive an honest price.
How Quality properties of Northwest Florida LLC Can Help
Quality properties of Northwest Florida LLC is a team of professional homebuyers who can help you by purchasing your home outright. We will take care of the back taxes, liens and anything else that is stopping you from selling the house in the traditional manner. You don’t have to feel stuck, burdened or feel exhausted by the amount of debt you are facing.
We have worked with people all over the Pensacola area who were dealing with property tax problems. Let us help you by using our knowledge and expertise to get you out of the situation fast!
At Quality Properties Of Northwest Florida LLC, we truly believe there’s nothing we can’t help with when it comes to selling any residential property in any situation. Tax delinquency happens to be one of the most critical situation a homeowner can be in. Just because homeowners literally get nothing after the tax deed sale takes place.
We stand with homeowners to get them the best outcome with our home cash offers. Also we have the ability to close in 10 days and even faster in some critical situations to save homeowners from losing their homes. At Quality Properties Of Northwest Florida LLC, we act with a sense of urgency to get the job done completely without ever coming up short.