Just wondering if it is possible purchase a property that has been sold at a tax lien sale from the delinquent owner. maybe pay for the redemption and offer the owner a sum of money to turn the property over. obviously the property would have to be free and clear and the owner would have no chance of redeeming on their own.
i recently looked at a property (for my own residence) that sold at the tax sale last year and was redeemed within a month. its being offered for sale by an investment group though, not the original owner. just trying to figure out how the investors got ahold of it. Thanks.
You need to be clear of what the tax sale rules are. Be careful about purchasing from the delinquent owners, depending on the laws in your city/county the the property may be under judgement and the owner would then no longer be in position to sell.
If the investment group bought the property at the sale then they become the new owners. Their intention may have been to buy it then resell for a profit.
i know the property was sold at the tax sale but it was redeemed a month later (12 month redemtion period here). The owner was in a bad situation and would not have been able to redeem on his own. I’m thinking someone (the investors) gave him the redemption money plus some extra to give up the house. it sold for 52k at the tax sale and the investors were selling for 160k. redemption price would have been 57200. seems like a bargain even if they gave the owner 10-20k to walk. if i can find out if this is something that is legally possible, i might give it a shot.
That could be the case. If the original owner got back the property he would’ve had to pay additional penalties in addition to the lien. More thatn likely he got help. You could do this also if you keep track of properties that are postponed or stayed then get in touch with the owners. Again check the legal stuff.