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The Sandbox
Tax Auctions
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<blockquote data-quote="rjruchti" data-source="post: 245198" data-attributes="member: 7866"><p>Need to know a little about the person that is living or has lived there. If there is a good chance they will pick up the back taxes it is easy money with the high interest. If there is a mortgage on the property, they will pick up the taxes just before the auction. If they don't they are not interested in it any more so you could end up with the property. It's a gamble, win some loose some. Friend who is also my banker bought a tax sale house in town that looked good on the outside. After he got found out the inside was damaged beyond repair bu humans and termites. He took his loss and let it go back to the City who tore it down. City got it because next tax sale as no one bid on it.</p></blockquote><p></p>
[QUOTE="rjruchti, post: 245198, member: 7866"] Need to know a little about the person that is living or has lived there. If there is a good chance they will pick up the back taxes it is easy money with the high interest. If there is a mortgage on the property, they will pick up the taxes just before the auction. If they don't they are not interested in it any more so you could end up with the property. It's a gamble, win some loose some. Friend who is also my banker bought a tax sale house in town that looked good on the outside. After he got found out the inside was damaged beyond repair bu humans and termites. He took his loss and let it go back to the City who tore it down. City got it because next tax sale as no one bid on it. [/QUOTE]
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