Debts on a foreclosure.

[Paula]

If someone buys a foreclosure home which has debts outstanding including taxes and community fees amongst other things, are they not liable for the debts or a part of some depending on the length of time they have been outstanding?

[katy]

We bought a foreclosure and it was free of debt, even the community fees. Don't know if it varies from bank to bank though.

[Jool]

I think we established on previous thread that community fees lasted for 2 years, and I would think the Notary has to ensure the tax man gets paid as well before the seller, bank or not, gets their cut, so I think you need to check this out thoroughly, it has certainly tightened up a lot over this way in the last 6 months.

[Paula]

It's not for me (wouldn't buy anything else here bargain or not!)
I'm just being nosy really, was speaking to somebody that has bought a foreclosure where I have friends, I know that there are debts involved. The new owner said that they were told about outstanding taxes, community fees etc but said he wasn't prepared to pay anything that wasn't his debt. According to him his lawyer sorted it all out, which sounded ominous