Real Estate Investing Forums

Real Estate Investing => Foreclosures, Short Sales, Tax Foreclosures => Topic started by: dchamber on June 24, 2020, 11:04:30 am

Title: First Tax Sale Property
Post by: dchamber on June 24, 2020, 11:04:30 am
I bought my first tax sale property.  This was a tax deed sale, and we have a 1 year right of reclamation.  I'm sitting on it for a year, and I am not supposed to go to the property.  I don't think the owner will reclaim because there is a bank loan for almost double the value of the property.  There is a chance the lender may reclaim.

What do you do about that the grass?  It's severely overgrown, but I am not supposed to go on the property.  Plus, I would not be able to recoup lawn care if it is reclaimed.  I think I can recoup lawn care cost, if the city order me to do it (which won't be long).

I think there is a good chance it will not be reclaimed, due to the larger loan on the property.  However, I never know what to expect from lenders.  I welcome any insight.