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Old 08-26-2016, 11:38 AM   #1
Flip Flop
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Buying tax delinquent property 101

Anyone have any experience? I got about 10 G's I'm looking to get some land with.

Do I have to attend in person or is there some online service I can use?
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Old 08-26-2016, 11:48 AM   #2
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More projects?
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Old 08-26-2016, 11:52 AM   #3
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More projects?
Well no nothing new per se... my "buying land to F around on" turned into more of an investment endeavor...
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Old 08-26-2016, 11:59 AM   #4
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Well. I am currently involved with people who are doing just this. Buying foreclosures or repossed (distressed) homes and flipping them. Done a few already.

I also have over 10 years in hydroponics and vertical growing (used to be texas distributor for colosseum growing systems)

I would be perfect to bounce ideas off of.....

. Sucks for you.
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Old 08-26-2016, 12:11 PM   #5
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I guess Tia only grew tomato's he is way to uptight to be a head.

https://www.hctax.net/Property/TaxSales/TaxSales

I know they used to have them listed in greensheet style newspaper down at the courthouse.
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Old 08-26-2016, 12:50 PM   #6
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The best I found as far as browsing online goes is some websites to local law firms that are involved with a good chunk of the local foreclosures. Linebarger goggen blair and sampson or whatever...it shows the property value, what the starting bid will be, ect...

But is there not like an online service where I can place bids on property? Do you absolutely have to attend the auction on tuesday?
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Old 08-26-2016, 12:57 PM   #7
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Quote:
Originally Posted by Flip Flop View Post
The best I found as far as browsing online goes is some websites to local law firms that are involved with a good chunk of the local foreclosures. Linebarger goggen blair and sampson or whatever...it shows the property value, what the starting bid will be, ect...

But is there not like an online service where I can place bids on property? Do you absolutely have to attend the auction on tuesday?
I have heard of some I think thats more bank foreclosures.

Sounds like you need to sit down with a solid Realtor with a g of oil and hash all these questions out.
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Old 08-26-2016, 01:05 PM   #8
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Sounds like you need to sit down with a solid Realtor with a g of oil and hash all these questions out.
Well I'm not buying houses I'm buying land to build a house on due to budget constraints.
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Old 08-26-2016, 01:08 PM   #9
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Quote:
Originally Posted by Flip Flop View Post
The best I found as far as browsing online goes is some websites to local law firms that are involved with a good chunk of the local foreclosures. Linebarger goggen blair and sampson or whatever...it shows the property value, what the starting bid will be, ect...

But is there not like an online service where I can place bids on property? Do you absolutely have to attend the auction on tuesday?
yep/...and you better have cash or money orders in all sorts of denominations. They don't make change....and they expect you to pay up almost immediately. Wife and I are probably about to dive into this type of endeavor. Lots to look at and consider, do your DUE DILIGENCE. The county/city won't be held liable for other outstanding liens, etc. If the property has a habitat on it, the owner has 2 years after tax sale to catch up on taxes and regain the property. Not sure on the specifics of that, but have confirmed there is potential risk of owner coming back to reclaim his property. I just read your reply above: if no structure, I don't think there is much to worry about regarding current owner coming back....but, you do have to be conscience of other liens, etc.
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Old 08-26-2016, 01:25 PM   #10
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yep/...and you better have cash or money orders in all sorts of denominations. They don't make change....and they expect you to pay up almost immediately. Wife and I are probably about to dive into this type of endeavor. Lots to look at and consider, do your DUE DILIGENCE. The county/city won't be held liable for other outstanding liens, etc. If the property has a habitat on it, the owner has 2 years after tax sale to catch up on taxes and regain the property. Not sure on the specifics of that, but have confirmed there is potential risk of owner coming back to reclaim his property. I just read your reply above: if no structure, I don't think there is much to worry about regarding current owner coming back....but, you do have to be conscience of other liens, etc.
Lots of good info there. Where would I go to check and see if they owe any other fines or if there are liens? That wouldn't show up on the tax site?

I plan on using cash money so I guess I just need to make sure I have all my ducks in a row so I don't waste a day missing work for the auction.
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Old 08-26-2016, 01:26 PM   #11
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. Sucks for you.
I'll pray for you.
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Old 08-26-2016, 02:17 PM   #12
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I have done this, but it isn't easy and a lot more time than you would think to clean the titles up to be able to get it through a title company for resale. Unless your an attorney or know what your doing you will never be able to resale the property as you will never have clean title.
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Old 08-26-2016, 02:23 PM   #13
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I have done this, but it isn't easy and a lot more time than you would think to clean the titles up to be able to get it through a title company for resale. Unless your an attorney or know what your doing you will never be able to resale the property as you will never have clean title.
Thanks, I'm slowly starting to realize this is probably not the best way to get my feet wet.
I'm now thinking about just buying some clean property up for sale. I've found several in the under 10,000 range going for less than 2 dollars per sq ft...
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Old 08-26-2016, 02:33 PM   #14
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Quote:
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Thanks, I'm slowly starting to realize this is probably not the best way to get my feet wet.
I'm now thinking about just buying some clean property up for sale. I've found several in the under 10,000 range going for less than 2 dollars per sq ft...
Great Idea buying up the properties they paid pennies on the dollar for.
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Old 08-26-2016, 02:39 PM   #15
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I'll pray for you.
I thought you were athiest?
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Old 08-26-2016, 03:09 PM   #16
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I do know the original owner has a certain period of time that they can buy the property back from you. I believe they have to pay you a 25% penalty though so you still make money. Problem is getting a clear title to even do anything with it. I don't think you can sell the property until the owners buyback period is over so you will be stuck with it for some time. Not 100% sure though. I always pictured these auctions as being like that tv show where they bid on the empty storage units. Bunch of lowlife lottery ticket scratching, paint huffing weirdos arguing with each other over who is going to get Aunt Shirley's house back from the gubment.
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Old 08-26-2016, 03:18 PM   #17
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Quote:
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Well I'm not buying houses I'm buying land to build a house on due to budget constraints.
If the land is in the city or a neighborhood you would be fine, but if it is rural land that you plan to build on in the future you have to see if you can even put a well and septic system in among other things. That costs money out of pocket before you even purchase. Just some things to think about.
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Old 08-26-2016, 03:56 PM   #18
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I thought you were athiest?
Now You're starting to get it
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Old 08-26-2016, 04:17 PM   #19
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If the land is in the city or a neighborhood you would be fine, but if it is rural land that you plan to build on in the future you have to see if you can even put a well and septic system in among other things. That costs money out of pocket before you even purchase. Just some things to think about.
Most of the land I've been seriously considering is just outside the loop in subdivisions. I found several small pieces of land in the ghetto with a slab already poured(likely from a house that had been torn down) along with water and electric hook ups...
Some are even zoned for mobile homes, so I could always just hang onto the property and rent it out until the value goes up if I wanted to go that route.

I'm not sure now. Trying to decide whether or not to go with a tax auction property or just pay cash for one thats for sale.
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Old 08-26-2016, 04:18 PM   #20
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I thought you were athiest?
with a christian base
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yeah. I thought it'd be like riding with a condescending rossi.
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