Legal Notice 175 Properties To Be Up For Auction Dec 29!
Hey guys,
I saw a two page add in the paper today. Tax Sale. 175 Properties in my area. Now i konw that chances are better than not, that all 175 properties wont be auctioned off, but im sure a few will.
What should I look out for. I know tax is concidered the primary obligation, so leins are wiped out. Is there a place I can go, or call about getting this list updated? Very curious and Very excited Let me know
Birddog I--MA-------------------
First, are you sure it is a government entity conducting the sale, or an auction firm doing it for the government entity? Sometimes here in CA we see such notices and it is people reselling properties that they bought at tax sales and they use the "tax sale" phrase as an advertising draw.
Decide what types of properties you want to buy. Eliminate all of those that don't meet your criteria for buying.
Get regular updates from the selling entity about what properties are off the sale and drop them. I typically check one or two times a day.
Check out those that pass the rough screening. Check for toxic waste, zoning, suitability for building or other use, cost to build upon, demand for such properties in the area. Those that still seem good after seeing the maps and checking the records, go and look at. Do this last and as close to the sale date as you can.
It can be advantageous to approach owners and make deals to buy before the tax sale. Once, my partner and I bought a four bedroom house here in Oakland pretaxsale for $275, plus taking on the tax burden.
Find out if you will have to do a quiet title lawsuit to get marketable title, and the cost to do so. Factor that into the price you pay. Understand that some properties can be sold without title insurance.
Make sure you know what form of funds will be accepted and when. Have your funds in the correct format and when you must have them.
Go to bid and see how it goes. If you get some, get a little excited. Wait until you are spending the money after reselling them before you get a lot excited.
Good Investing************Ron Starr*************
Birddog I--MA-------------------
First, are you sure it is a government entity conducting the sale, or an auction firm doing it for the government entity? Sometimes here in CA we see such notices and it is people reselling properties that they bought at tax sales and they use the "tax sale" phrase as an advertising draw.
Decide what types of properties you want to buy. Eliminate all of those that don't meet your criteria for buying.
Get regular updates from the selling entity about what properties are off the sale and drop them. I typically check one or two times a day.
Check out those that pass the rough screening. Check for toxic waste, zoning, suitability for building or other use, cost to build upon, demand for such properties in the area. Those that still seem good after seeing the maps and checking the records, go and look at. Do this last and as close to the sale date as you can.
It can be advantageous to approach owners and make deals to buy before the tax sale. Once, my partner and I bought a four bedroom house here in Oakland pretaxsale for $275, plus taking on the tax burden.
Find out if you will have to do a quiet title lawsuit to get marketable title, and the cost to do so. Factor that into the price you pay. Understand that some properties can be sold without title insurance.
Make sure you know what form of funds will be accepted and when. Have your funds in the correct format and when you must have them.
Go to bid and see how it goes. If you get some, get a little excited. Wait until you are spending the money after reselling them before you get a lot excited.
Good Investing************Ron Starr*************