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re: Anybody ever buy property on civicsource?
Posted on 3/5/24 at 2:35 pm to Neauxla_Tiger
Posted on 3/5/24 at 2:35 pm to Neauxla_Tiger
Just realize you still have lots of legal work still to be done to obtain "clear and merchantable title" usually in the costs of $5,000 give or take to obtain judgment to quiet tax titles.
Most people think they are getting these great deals and don't realize the amount of legal work to be done cleaning these things up.
Then after paying to clean it up, some lenders still will NOT lend money on tax title properties...Period.
My recommendations when someone asks me about buying one are if you can plan to hold the property for at least 10 years, like rental property, then it might make sense. Otherwise, stay away. These are not "flip" properties.
Most people think they are getting these great deals and don't realize the amount of legal work to be done cleaning these things up.
Then after paying to clean it up, some lenders still will NOT lend money on tax title properties...Period.
My recommendations when someone asks me about buying one are if you can plan to hold the property for at least 10 years, like rental property, then it might make sense. Otherwise, stay away. These are not "flip" properties.
Posted on 3/6/24 at 6:38 am to TopWaterTiger
quote:
Most people think they are getting these great deals and don't realize the amount of legal work to be done cleaning these things up.
I look at them like buying a lawsuit.
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