Q. about county owned properties - Posted by Vern

Posted by Irwin on March 15, 1999 at 07:09:34:

These properties are probably sold at a public auction, so you don’t know how much they will cost until you go and bid.
Once in a while, you can find a neighor who will buy it to add on to his property. I did, once. I might have made $1,000. More likely, no one wants it now, and you end up having to keep the lot mowed in the summer and clear of trash. This gets expensive, if you have to hire it done. You also have to continue paying the taxes. If you’ve guessed right, someday someone will want to build a new home on it, and you’ll do okay, but how long you have to hold it is the key.

Q. about county owned properties - Posted by Vern

Posted by Vern on March 14, 1999 at 14:47:38:

My county has hundereds of residential lots in run down neighborhoods that they took back when the taxes were not paid and the property didn’t sell at auction. When they acquired the property they tore the houses down and all that is left is the lot. These are selling for the back taxes approx. $500-$1000 and most have an assessed value at about $2500-$5000.

Has anyone had any luck buying and selling these properties? I thought I could either try to sell them to the neighbors or through a classified ad in the paper----any suggestions?

Also, would I have to do a quiet title action to get marketable title on these?

Thanks for the help
vern in Oklahoma