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-   -   my builder didnt pay any taxes on my house only the property for 5 years (http://www.diychatroom.com/f2/my-builder-didnt-pay-any-taxes-my-house-only-property-5-years-130775/)

sn604s 01-20-2012 08:14 PM

my builder didnt pay any taxes on my house only the property for 5 years
 
my builder sold me a house that he built but it sat vacant for 5 years. I noticed he didnt pay any taxes on the building all those years. Is that leagle for a builder because it his business?

oh'mike 01-20-2012 08:22 PM

Was your real estate attorney concerned at the closing?

If you have title insurance any deficiency might be covered---

sn604s 01-20-2012 09:43 PM

wow mike thanks...i thought my question was so boring noone would look aat it..well, I didnt have an attorney and I dont know if i have title insurance.. where could i find that?

sn604s 01-20-2012 09:46 PM

also another question for ya mike..how can that protect me and can i proove that my builder was a tax evader since no records on my building?

sn604s 01-20-2012 10:11 PM

i did have title insurance when we closed..then my loan was sold right away..does that insurance transfer too? or do i gotta check my current mortgage holder or does only the first one matter since thats when the contract was drawn up?

jomama45 01-20-2012 11:03 PM

In todays-day-and-age, a bank won't borrow you the money w/o the tax liens first satisfied. If you look at the closing cost fees, you'll see an item and feel listed for the "title search" or something similar. It is the title companies job to ensure that there are no tax lines, along with searching for a multitude of other possible issues & restrictions. If the drop the ball, they typically have to "eat" the mistake.

Msradell 01-20-2012 11:22 PM

In many areas property taxes for the building are not levied until the home is sold to the first buyer (that's the time it's considered completed). Before that it's just considered vacant land by the taxing authorities!

mem 01-22-2012 12:57 PM

Quote:

Originally Posted by Msradell (Post 829538)
In many areas property taxes for the building are not levied until the home is sold to the first buyer (that's the time it's considered completed). Before that it's just considered vacant land by the taxing authorities!

That may very well be true but even vacant property is typically subject to property tax, albeit at a much lower assessment than property with a dwelling.

Msradell 01-22-2012 02:34 PM

Quote:

Originally Posted by mem (Post 831153)
That may very well be true but even vacant property is typically subject to property tax, albeit at a much lower assessment than property with a dwelling.

The OP said the builder didn't pay any taxes on the building. He did mention anything about paying taxes on the property or not which is what you would pay in most cases.

1910NE 01-22-2012 04:21 PM

Quote:

Originally Posted by jomama45 (Post 829528)
In todays-day-and-age, a bank won't borrow you the money w/o the tax liens first satisfied. If you look at the closing cost fees, you'll see an item and feel listed for the "title search" or something similar. It is the title companies job to ensure that there are no tax lines, along with searching for a multitude of other possible issues & restrictions. If the drop the ball, they typically have to "eat" the mistake.

And, the taxing authority/municipality would should get their cut from proceeds at closing (before any $$ goes to the builder.)


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