Tax Auctions

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Tax Auctions - 5/9/2008 6:12:13 PM

devinevessel

Posts: 332
Joined: 8/28/2006
Status: offline

Has anyone bought property through a tax auction? What are the pros and cons? I realize each city, county and state are different. I am thinking about investing in real estate.

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RE: Tax Auctions - 5/13/2008 11:43:56 PM

dyj314

Posts: 1
Joined: 5/13/2008
Status: offline

If you check you local government online you will be able to ascertain which listings are available in your area and what properties are being listed for auction as well as what price.

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RE: Tax Auctions - 5/15/2008 9:33:02 AM

Szaftoo

Posts: 941
Joined: 4/13/2005
From: So. Calif.
Status: offline

Do your homework so you will know the worth of the property before going in. If improvements are needed, know how much that will cost. Find out how attractive the area is to buyers. Know ahead of time what you are willing to spend and don't go over it. It's easy to get caught up in the bidding and go over.

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RE: Tax Auctions - 5/15/2008 11:05:04 AM

phreddy

Posts: 285
Joined: 3/28/2007
Status: online

Research your local and state laws. In my state, even if you win the auction, you do not own the property free and clear for over a year. The previous owner still has an option to purchase it back. There is risk in making improvements to the proprerty before it is yours free and clear.

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