Are there any RISKS! You bet your sweet bippy there’s risks - Posted by David
Posted by David on December 05, 1999 at 21:25:32:
How can I tell you?
Let me count the ways.
I have been to Tax Sales that have sold:
- Property on the Super fund list
- side of cliff
- certified wetlands
- former auto paint shop, another chemical site
- landlocked property
- army bombing range
- property at bottom of new man made lake
- river bottom with not dry land except maybe in 50 yr drought.
- narrow strip of land with active railroad tracks
- property 2 feet wide
- many other properties where combined side setback exceed property width
- property unsuitable for ANY septic system
- ground under interstate highway
- development detention pond
- development dedicated recreation area
- abandoned quarry filled with trash, garbage, toxic substances
- TV tower on rented land (the land was not for sale)
- land but not building, where a Fortune top 20 company had a prepaid 30 year lease.
That’s only the risks that I could think of in a 2 minute drill.
I went to a tax sale yesterday and saw properties offered for sale with big mortgages, that were not wiped out. One 12 acre vacant land had a $440,000 lein which would transfer with the property. Several people bought stuff yestreday with big existing mortgages. Why? Not yesterday, but I few years ago I saw a property sold at tax sale that has $1.5 million IRS lein!
Be CAREFUL out there,