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.