Learn of any special deed/title restrictions benefiting the current
owners. In some areas I believe a person can recover their property lost
to a tax sale for a period of up to two years. Knowing in advance might
save you from sinking too much cash into something not 100% yours yet.
Yeah...be dam'ed wary. There can be all kinds of other (besides tax)
unsatisfied liens, unproved title issues, even possible environmental or
other things you can get into.
While sometimes it's as simple as a single homeowner in default, usually
by the time it gets to a tax sale there are a myriad of problems that
have built up over a long period of time and may be extremely convoluted.
I'd strongly suggest consulting local attorney and some real estate
folks in the area who have some experience for some help protecting
yourself rather than just jumping in on your own.
Have you rehabbed a house, often a junk is better torn down. Getting a
junk to code can mean redoing everything. Talk to an inspector or
someone in your area that does it. I would want to see what I am
buying and know local codes.
If you havent bought at auction before and you havent rehabbed before
you may just learn a very expensive lesson.
You need to know the hidden costs in the auctioning process
particularly after the purchase.
Next you need to know how much you will be putting into the fix up
Then you need to know what the property will be worth after the
Keep in mind that properties are not worth what they were just two
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