Tax Deed Property In PA
I am looking to submit a sealed bid on a lot next to mine in PA. It's listed as being part of a "land repository sale".
According to the tax office "Any amount may be bid for these properties. It is at the discretion of the Director to accept or reject such bids. These properties are also free and clear of any judgments.". Do I still need to check on IRS leins?
Also,"Within thirty days after the sale, the Tax Claim Bureau sends written notice of the sale to the owner. Within sixty days of the sale, the Bureau files a petition for confirmation of the sales by the court. The owner may file objections to the confirmation of sale within thirty days following confirmation. The objections may question the regularity or legality of the sale, including notice of the sale, but may not raise the legality of the taxes. After the court has confirmed the sale, the Tax Claim Bureau executes and records a deed for the property to the successful bidder. While Tax Claim deeds are valid, some title insurance companies will not insure them, so it may be necessary for the purchaser to file an action to quiet title against the former owner to get insurable title. "
Is it possible to end up in years of legal wrangling? In the near future I would like to put a garage on it to improve the price of my house.
Are there any ideas on what is a good rule of thumb to figure a price to bid?
ameliap--(PA)-------------------
About the IRS liens, ask the people at the office that take the bids.
I'd recommend you find out what prices the office has accepted for similar properties in the past years. Ask them if they have lists of the properties they have sold. If not, go to the county land records and see the deeds from them to the new owners if you can.
Since you want to use it in conjunction with your own property, you probably will want to offer a higher price than a typical investor. I'd suggest you try to find out if they have other offers on that particular property. If not, make your offer a little lower, if they do, make it somewhat higher.
Good Buying**********Ron Starr************
In Florida the county does all the notifying. There is no redemption period once the deed is sold at auction.
You cannot bid a 1/4% and then get a higher rate. Buying up other certs does not rool the rate up higher either. Each cert is at the rate it was originally sold at. If it struck off to the county the rate is 18%. To take the property to sale you have to pay off all other certs and the fees for advertising and such
Quote:
On 2004-10-14 14:32, sara81 wrote:
I know that Florida prohibits lien buyers to contact the homeowners.
That is not true. The certificate holder can contact the owner, the same as anyone else who is interested in speaking with them.
Quote:
On 2004-10-24 03:02, linlin wrote:
Each cert is at the rate it was originally sold at. If it struck off to the county the rate is 18%. To take the property to sale you have to pay off all other certs and the fees for advertising and such
And once the other certificate holders have been paid, your interest rate will automatically go to 18% until the property is sold.