Need to Sell Your House Quickly Due to Property Taxes? Our Cash for Houses Forth Worth Team Can Help!
January 21, 2020
Property taxes exist all over the USA, but are especially high in the State of Texas where the average property tax rate is 1.86%. On average, homeowners pay over $4,500 per year in this tax alone – an amount that can easily be difficult to raise if you’ve had a challenging year. You may find that it makes more sense to sell your house quickly and downsize to lower your property taxes, or sell your home to avoid foreclosure – but how can you sell your house quickly enough? Our cash for houses Fort Worth real estate agents are here to help, and if you accept our market-related offer on your home, you can sell your home in 24 hours.
Why are Property Taxes So High in Texas?
Property taxes in Texas are the 6th highest in the country for a number of reasons. Most importantly, it’s because there is no income tax in Texas. This makes this tax very important to local governments, who use this money for funding local community projects and programs including public education, parks, libraries, animal control, museums, waste removal, road infrastructure, emergency services and more.
Not Paying Property Taxes Can End in Foreclosure
As a result of these taxes being so important to government programs, local tax offices are very strict about collecting property taxes. On January 1st, a tax lien is applied to every home that is only lifted when property taxes are paid in full by January 31st. If these taxes are not paid, a penalty of 6% of your original tax amount is added to the bill on the first business day of February, along with 1% interest per month. An additional 2% interest is added for every month the bill goes unpaid from July 1st. Tax collection fees can also add up to an additional 20% of your entire tax bill.
Most people have the best intentions when it comes to paying these taxes – after all, they go towards making our cities, towns and suburbs great places to live – but with penalties like these, it’s easy to see how property taxes can spiral out of control, especially if you’ve had a financial setback.
What Happens When Property Taxes Aren’t Paid?
Unfortunately, the tax lien placed on your home by the local government means that they can foreclose on the property in order to get the taxes owed to them. This leaves homeowners in a difficult position where they can’t pay their bill and, while foreclosure will release those funds, it will leave you homeless and with a bad credit record that will make renting or purchasing another property very difficult to do. So, what’s the answer?
How to Sell Your House Quickly and Avoid Foreclosure
One answer is to sell your house quickly – that way, you release any funds or profits in the property so you can pay your taxes and have money to find a new home to buy or rent. Your credit record will be protected, you’ll get out of foreclosure, and there will be no record of any foreclosure proceedings against you.
However, you have to act quickly. Traditional real estate agents can take several months to sell a house and foreclosure can occur before that sale date. You also need to sell your home quickly if foreclosure is looming – the sale has to occur before the date set to sell your home at auction.
That’s where our cash for houses Fort Worth real estate agents can assist you. With us, you can sell your house in 24 hours – allowing you to pay your property taxes and move forward with your life. We offer market-related prices for property and don’t require you to do any repairs or improvements to your home, and you pay no commission, so there’s more money in your pocket.
Sell Your Home in 24 Hours to Our Cash for Houses Fort Worth Real Estate Agents
If you’re selling as is or want to sell your house quickly, we’re happy to buy it. Here’s how our process works:
- You enter your information on our website
- We’ll contact you directly to discuss an offer for your property (you can also get a free property evaluation from our website)
- You can accept or reject the offer
- You can also call us directly on 469-858-0088
Our team is compassionate and highly-motivated to offer you the best possible market-related price for your home you want to sell fast.
At Shiny Key Properties, our trained consultants have years of experience in helping homeowners to get out of foreclosure or needing to sell quickly. To find out more about our cash for houses Fort Worth service, please contact us today and speak to one of our friendly team members.