Has anybody…………….
Printed From: Unofficial Allis
Category: Other Topics
Forum Name: Shops, Barns, Varmints, and Trucks
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URL: https://www.allischalmers.com/forum/forum_posts.asp?TID=199824
Printed Date: 10 May 2024 at 2:33am
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Topic: Has anybody…………….
Posted By: Lars(wi)
Subject: Has anybody…………….
Date Posted: 14 Feb 2024 at 6:27pm
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purchased residential property thru a Sheriff’s sale? In the city we live in(Texas) there is the quarterly sale of property’s that are subject to sale for unpaid property taxes. Curious what others experience’s have been? ------------- I tried to follow the science, but it was not there. I then followed the money, and that’s where I found the science. |
Replies:
Posted By: DiyDave
Date Posted: 14 Feb 2024 at 8:16pm
Depends on the locality's laws. Around here the law changed in the past 15 years or so, used to be a good investment, now, not so much. I suggest you google for your state and county's laws/regulations... ------------- Source: Babylon Bee. Sponsored by BRAWNDO, its got what you need! |
Posted By: Hubert (Ga)engine7
Date Posted: 14 Feb 2024 at 9:07pm
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Agree with Dave that it depends on local/state laws. Most of what I have seen around here are very small tracts that heirs don't want and can't find a buyer so they don't pay the property taxes and the county takes it. Another drawback is that the owner has a year to pay the taxes and penalties and get it back so you really can't do much with it for a year. However every now and then someone lucks up on a great deal. ------------- Just an old country boy saved by the grace of God. |
Posted By: Lars(wi)
Date Posted: 14 Feb 2024 at 10:57pm
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Here in the county I live in, the successful bidder takes the paperwork from the auction, to the county tax office, and then the deed is transferred to the buyer that day. ------------- I tried to follow the science, but it was not there. I then followed the money, and that’s where I found the science. |
Posted By: Lars(wi)
Date Posted: 05 Mar 2024 at 7:56pm
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Went to the sale today, didn’t bid on anything. Found out during the presale announcements, Texas does allow the delinquent owner 2 years to take back the property, but must pay the buyer all taxes, and fee’s paid, plus 25% interest on the dollar amount the buyer paid the county, from the day of the Sheriffs sale, to the day the delinquent owner takes back. ------------- I tried to follow the science, but it was not there. I then followed the money, and that’s where I found the science. |
Posted By: Michael V (NM)
Date Posted: 05 Mar 2024 at 8:22pm
| I'd think that 25% interest and repaying all the other fee's back would kinda keep them from buying property back,, unless they really want it back.. |
Posted By: thendrix
Date Posted: 05 Mar 2024 at 8:24pm
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Allows 2 years? Wow! So I assume that means the purchaser can't do anything with it for 2 years while the delinquent owner tries or decides what to do? ------------- "Farming is a business that makes a Las Vegas craps table look like a regular paycheck" Ronald Reagan |
Posted By: Lars(wi)
Date Posted: 05 Mar 2024 at 8:37pm
------------- I tried to follow the science, but it was not there. I then followed the money, and that’s where I found the science. |
thendrix wrote:Posted By: DMiller
Date Posted: 06 Mar 2024 at 6:22am
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Missouri gives notices for three years on delinquent taxes, then goes to County courthouse for delinquency sale. All proceeds above the taxes and assigned court costs go to any lender on said property where is not sold for the delinquent taxes only. Sheriff personnel is then dispatched to the property to present notice of eviction which also can take up to two years if the previous owner decides to dispute, before new owner can take full possession. Deed is changed day of first sale. All utilities are allowed to secure after beginning of April Until end of September, new owner is not responsible for squatter expenses.. |
Posted By: DiyDave
Date Posted: 06 Mar 2024 at 4:49pm
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I think that 25 % thing is what changed around here, useta be that you just paid the arrearage on taxes, waited and either you got your money back plus interest, or the property. Then they changed to highest bid, and the BTO real estate guys (friends of the governor), would bid up so high that it squeezed the little investors out. Some of the properties were landlocked, some were wetlands, and some were the owners gettin the property appraised, so to speak... ------------- Source: Babylon Bee. Sponsored by BRAWNDO, its got what you need! |