Properties in La Mesa and Chaparral to be auctioned for back taxes

Each year, the Doña Ana County Treasurer, along with the state’s 32 other County Treasurers, are required by law to compile a list of properties on which property taxes have not been paid. If the owner of the property has not paid the overdue taxes within three years of the first missed payment, New Mexico law requires the state to collect the arrears by auctioning the property.

The next Doña Ana County Overdue Property Tax auction will be held in the DAC Government Center Commission Chambers, 845 N. Motel Boulevard in Las Cruces, at 9:00 am on Wednesday, November 10. Two properties are currently on the block. Here’s how the process works:

The first step is to obtain a list of properties for auction from the county clerk’s office or state tax and revenue division. The easiest way to do this is to simply type the words “New Mexico State delinquent real estate auctions” into your browser. You will find the link to the next auctions at the top of the page.

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The second step is to diligently research the title and court documents to determine if any liens, other than those for property taxes, have been levied on the property. Carrying out the research is a critical step because only the property tax lien is extinguished by the sale. All remaining privileges will remain in place and become the responsibility of the new owner. Best practice dictates that a commitment to issue title insurance be obtained from a title company before bidding on a property.

The third step is to register and obtain a bidder number from the auctioneer.

Two properties are offered for auction. The first is a 4.93 acre parcel of land on Lister Avenue in La Mesa, New Mexico. The minimum bid is $ 1,000.00. The other is a 2.93 acre parcel of land located on Quitman Road in Chaparral, New Mexico, with a minimum bid of $ 4,800.00.

Determining the physical condition of the property can be difficult. While bidders may walk past the properties or view them from a public sidewalk, the Tax and Revenue Department warns that “potential buyers should not trespass on a listed property, or contact or disturb the occupants, if applicable,” for the purpose of collecting information on any classified property.

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If you are a successful bidder, you will have to pay the full amount of your purchase on the spot. No cash payment will be accepted, but the county will accept money orders, certified checks, cashier’s checks, or personal or business checks accompanied by a letter of credit guaranteeing payment.

Being a successful bidder in the sale does not necessarily mean that you will be the ultimate owner of the property. While federal law gives the IRS 120 days to determine if they want to seize the property to satisfy any liens they might have against the previous owner, the previous owners also have a right of redemption under the law. of the State (article 39-5-19 NMSA 1978). This latter repayment period ranges from a minimum of one month to a maximum of nine months, depending on the terms of the mortgage or a judge’s decision in the event of judicial foreclosure.

According to Wikipedia, “The right of redemption, in real estate law, is the right of a debtor whose real estate has been seized and sold to recover that property if they are able to find the money to repay the debt. amount. debt “. A similar right is granted to homeowners who lose their property due to unpaid taxes. Now for an interesting twist.

People can buy and sell repurchase rights. Let’s say a homeowner loses their home due to foreclosure. The owner may not have the financial capacity to redeem the property, but someone else can. In this case, the previous owner could sell his redemption right to someone who has the capacity to redeem it. This person essentially takes the place of the previous owner and buys the property back from the bidder who acquired it at the time of the sale.

In case of cancellation of a sale, only the amount paid during the auction will be refunded. So, don’t put up that fence or remodel this kitchen until you’re sure the redemption periods have passed.

Another important point to remember is that the price paid in the sale is not considered the actual value of the property for property tax purposes. In other words, if you buy a $ 1 million property for $ 10, property taxes will be calculated based on the market value of $ 1 million, not the sale price of $ 10.

Meet at the fence.

Gary Sandler is a full-time real estate agent and president of Gary Sandler Inc., real estate agents in Las Cruces. He loves to answer questions and can be reached at 575-642-2292 or [email protected]

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