Photo from Unsplash

Originally Posted On: https://www.sellmysahousefast.com/back-property-taxes-guide-selling/

 

Back Property Taxes: The San Antonio Homeowner’s Guide To Selling

Many homeowners across San Antonio have unpaid property tax balances.  This can cause worry and concern especially if or when the homeowner is considering selling the house with delinquent taxes.  Whether the delinquent property taxes are due to financial hardship, miscalculations, or simple oversight, getting behind on property tax payments can cause stress and can lead to penalties, fees, and the risk of facing property tax foreclosure.

Even in the middle of these challenges, selling the house is a viable option for most homeowners.  Our goal is to highlight to San Antonio homeowners some of the ins and outs of back property taxes and how selling a house with delinquent taxes offers a clean slate.

Understanding Back Property Taxes in San Antonio

Like all cities in Texas, San Antonio relies on property taxes for public schools and other public services.  Each year, homeowners are responsible for the tax bill they receive that is based on the assessed value of their property.

If the taxes aren’t paid by the due date which is typically at the end of January, the taxes become delinquent.  Most homeowners who have a mortgage on the property have their taxes paid by their lender.  However, many homeowners own their houses outright or have opted out of this service from their lender.

Implications of Delinquent Property Taxes in Bexar County

When taxes become delinquent, they begin to accrue penalties, fees, and interest. The Bexar County Tax Assessor-Collector’s office is responsible for the collection of all taxes including delinquent taxes. There are some grace periods available as well as payment plans that are offered to residents who are experiencing financial hardship.   However, as time goes by, those options become fewer and harder to obtain which can make the property harder to sell or refinance.

As time goes by, property taxes that go unpaid can have serious consequences.  In addition to the growing financial ramifications, unpaid property taxes give Bexar County cause for initiating the property foreclosure process.  When this happens, the property can be sold at auction to satisfy the property tax debt that is owed.  If a property’s back tax situation reaches this point, it’s absolutely crucial that the property owner take proactive measures to avoid losing the house to back taxes.

Navigating the Legalities with Bexar County’s Tax Authorities

In San Antonio, dealing with back property taxes means working with the Bexar County Tax Assessor-Collector.  For homeowners in this situation who are looking for options, seeking relief programs from this office can be a first step.

First, they are often willing to discuss payment plans.  You might have the chance to work out a predetermined payment arrangement which can ease the financial hardship.  This route often still includes penalties and interest.

In some rare instances, the county may negotiate a settlement.  This however is the most unlikely outcome and would require a lump sum payment.

When it comes to selling a property with delinquent taxes in San Antonio, the title company plays an important role.  They will ensure that all of the back taxes, penalties, and fees are settled using the proceeds of the sale.  This provides an important layer of protection for both the buyer and the seller.

Selling Options For Homeowners With Delinquent Property Taxes

Every home sale situation is different and this tends to be especially true when facing the added pressure of delinquent property taxes.  However, homeowners in San Antonio should know that they have several selling options available to them when it comes to selling their house.  Sometimes the decision is based on how quickly they need to sell, the overall condition of the property, and the financial circumstances of the homeowner.  Understanding the nuances of each option can make the decision process easier and often highlights one option as the obvious best choice.

Listing The House For Sale With a Realtor

Selling the house with a San Antonio real estate agent gives you the most market visibility because the agent will list the property on the MLS and it will show up on other sites like Zillow as well.

A Realtor will also do their best to get you the most money for the house, even if that means it takes a little longer to sell.  Selling a house with back property taxes using a real estate agent will likely mean paying commissions.  In San Antonio, the most common commission structure is 6% of the sales price of the house. As long as you aren’t in a hurry to sell the house and the house doesn’t need many repairs, this option will likely be your best option.

Selling the House For Sale By Owner (FSBO)

Selling the house for sale by owner means you are going to sell the house on your own without the help of a licensed real estate agent.  Selling your house this way means you save money on the commission costs but it takes a lot more time and effort.

First, you won’t have access to the MLS which is where houses are typically found by buyers because the MLS is what feeds all of the apps like Zillow and Realtor.com.  You then have to set the price, hold open houses, and handle all of the negotiation with the buyer as well as all of the paperwork.

Given the fact that there are delinquent taxes, homeowners choosing this route should be prepared for challenges because this is typically the selling option that takes the longest and has the most potential for setbacks.

Selling To a Cash Home Buyer like Capstone Homebuyers

Homeowners in San Antonio who are looking for a fast and hassle-free selling experience can turn to a local cash home buying company like Capstone Homebuyers.  This option is especially attractive to those who have houses that need repairs and updates.  Since these home buying companies buy houses “as-is”, there is no need for repairs and there is limited liability to the seller.

Additionally, closings can happen in as little as one week and since it’s a direct cash transaction, there are no commissions, closing costs, or fees.  A quality home buyer like Capstone Homebuyers will handle all of the issues related to delinquent property taxes as well.  Due to the ease and simplicity of selling using this option, many San Antonio homeowners trust this method of selling.

In Conclusion: Addressing Delinquent Taxes and Selling With Informed Decisions

Selling a property with back taxes in San Antonio can initially seem challenging, especially with the intricacies of Bexar County’s tax system and the added stress of potential legal implications. As we’ve discussed, homeowners have several options they can take, from listing with a realtor to selling directly for cash. Each approach has its merits, but the most important thing is to act quickly and make well-informed decisions.

For many San Antonio homeowners, reaching out to Capstone Homebuyers has provided a fast and hassle-free solution. Our expertise in handling properties with delinquent tax debts ensures a smooth transaction, eliminating the stress of back taxes while making sure you get a fair cash price for the property.

Furthermore, our deep-rooted understanding of the local market means we can offer guidance tailored specifically to San Antonio’s real estate market. If you find yourself struggling with delinquent property taxes and need a reliable partner in navigating the process, don’t hesitate. Contact Capstone Homebuyers today, and let us assist you in turning a challenging situation into a beneficial outcome.