Is purchasing via Tax Lien/Certificate Auction a Good Move? - Posted by ak newbie
Posted by ak newbie on May 05, 2000 at 12:50:43:
My county is holding a very large tax lien/certificate auction sale next week. There are hundreds, maybe thousands of properties listed. Each listing specifies the assessed value of the property and the outstanding taxes to be paid to takeover the property.
I never done this before, but I visited some of the properties and found that some were undeveloped land lots, some were swamp areas and others were fully developed properties with real houses. Nice houses!
I understand that there’s a 6-month period following the sale of any tax lien that the listed owner can pay off the outstanding taxes and reclaim the property. But are there any other “land mines” to watch out for? Any hidden (and exhorbitant) costs to be aware of? In general, is this a wise way to get started?
I have my eye on a couple of the properties and would like some input from anyone having traveled this road before.
Thanks, in advance,