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re: Tax Title Sales?
Posted on 2/12/15 at 7:26 am to Rev1897
Posted on 2/12/15 at 7:26 am to Rev1897
quote:
to the OP -- if it's in a good neighborhood and you can't find the owner, wait till the very last second and bid on the property on civicsource.
thats about what i was planning. and it sounds like the biggest down side would be not wanting to build anything on it without getting some real solid assurances that all the ducks are in a row. in the meantime, im happy just having a full lot of extra yard space.
i think im correct in saying as long as i dont go tossing an addition on my house the day the title is granted (or similarly aggressive and uninformed moves), that the absolute worst case scenarios are i either get my cash back from the previous owners, or i end up stuck selling an empty lot for cash later.
1
Posted on 2/12/15 at 7:41 am to NoSaint
I believe that even if you built something on the lot and someone came back years later and could nullify the acquisition they would have to pay you all the taxes, interest and improvements.
Posted on 2/12/15 at 7:53 am to secondandshort
quote:
and improvements.
i think the improvements have some limitations, i believe? regardless, if it was an addition to my house instead of a secondary rental property that would potentially be a headache.
boiled all the way down, ill either end up getting my cash and a bit extra for the troubles, or with some patience and diligence, ownership. theres not a spot where suddenly ive assumed overwhelming debt or lose out without my money coming back or anything.
Posted on 2/12/15 at 1:45 pm to NoSaint
quote:
boiled all the way down, ill either end up getting my cash and a bit extra for the troubles, or with some patience and diligence, ownership. theres not a spot where suddenly ive assumed overwhelming debt or lose out without my money coming back or anything.
Yea, i mean the worst case scenario is you have to hire a lawyer to get you your money back or defend yourself in litigation from the Record Title Owner. But even then you'd still get your money back. Downside is minimal.
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