Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?

  • HelixDab2@lemm.ee
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    11 months ago

    Absolutely. You have to pay taxes on your property (in most states; there may be exceptions that I’m not aware of). If you don’t pay your taxes for a long enough period of time, your property will be seized and auctioned off. Starting bids on property auctions are usually the back taxes; in less desirable areas–such as undeveloped land that with no utilities that’s out in the middle of nowhere–that may be all it costs.