Has anyone bought Property from the County Tax Assessors Property Strike Off List??? These are Properties that no one wanted in an Auction and have been on the books as “Exempted” with a Value of 0. There’s some real trashed properties but I found 4 or 5 that are in decent Middle class Neighborhoods… I assume you would make a sealed bid…I talked to a neoghbor about this one house and he said it’s been vacant 6 years. I checked and it’s true…value is 0…the comps are $55k to 60k in the area. I guess you would need hard cash to purchase then try to sell to a rehabber. Any comments???
Howdy Flipper:
In our great state of Texas (Travis County) you actually send in a cashiers check for the mininum bid amount or more even if you think therer may be another bidder. Keep in mind the redemption period and what day it started and how long until it expires. The owner still has the right for a while even two years in some cases to come back and pay the taxes and pay you a nice interest rate too.
If you have more questions do not hesitate to ask and hopefully some club members can help.