Bossier Parish Sheriff’s Office to Host Tax Sale Tuesday, Buy Property Cheap!
The Bossier Parish Sheriff's Office is holding its annual tax sale for properties in arrears Tuesday, June 8, 2021. This is your chance to purchase property across Bossier Parish for pennies on the dollar!
Now, before you head to the bank to clean out your savings account, there are a few things you should know. First, the State of Louisiana has the right to claim and/or resell any property that is delinquent with regard to property taxes. So, if you're behind on taxes, you better them paid and quickly, because tomorrow, starting at 8 am, 193 properties will be up for sale. If you are able to purchase a property, there are a few things to remember. You can take possession immediately, however, only if you can do so without resistance. If the property is occupied, you must take the former owner to court. And you also have to make sure not to count your chickens before they hatch, because the previous owner, despite not having paid taxes on the property, has three years to reclaim their property. The property can be taken back if the delinquent owner pays the purchaser back what they paid during the tax sale. They also have to pay for any taxes incurred in the interim plus a 5% penalty and 1% interest per month. The original owner also has to pay for any fees related to the transaction. Also, the three-year waiting period can be reduced to 18 months if the property is abandoned or 'blighted.' At the end of three years or 18 months, the purchaser then files for 'quiet title' to obtain official ownership.
As you can tell, there are some hoops to jump through. But, if you have three years and some extra cash, you could build an empire!
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