Buying land for back taxes???

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Lithiumokc

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Hey guys, there is an empty lot next to my house that I would like to buy to expand my yard. The property is owned by a company out of PA. I have not been able to get in contact with them. I was able to look up the tax info on the treasurers site but im not sure how that works. Do i just right them a check and get the property or is there a long process to get this done?
 

vvvvvvv

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Usually a sheriffs auction I think.

And that means pay close attention to the Public Notice section. Don't just count on them to send a timely update to ODCR or OCIS.

I wanted to buy the property next door to mine earlier this year. I was out of state when the public notice ran in the paper. ODCR didn't get updated on the notice and date for a Sheriff Sale until *weeks after* the sale.

The only reason I even knew there was a possibility of a Sheriff Sale on the property is because the process server was lost and knocked on my door.
 
H

haree

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Well i am a real estate consultant so i can provide you the land in Chicago or in California. Which is not more than enough but this is cheap as well.
 

Lithiumokc

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Well just got off the phone with the county. The taxes have not been paid in a few years, but is not set for resale until 2013 so I guess its a waiting game since I cant get in contact with the actual owners.
 

Cohiba

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Don't forget about a waiting period..before...you do anything to the property. I bought a few farms like what your looking at, way back in the 1980's. If I remember correctly,there is a time line for the original owner to repay you or the acessor the back taxes. It was way back when...and I may be incorrect on this. Check into it...before you buy the property and waaaay before you tear down, build up, or do any improvements....if I remember correctly.

Cohiba
 

mr ed

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you can buy the tax lien certificate from the county and wait 3 years(of unpaid taxes) and petition for a title.
or you can wait until the sale which is the first monday of june I believe. if its a good property then there will be several bidding against you. I would go the tax cert. way cause somebody could buy the cert. at any time.
if it don't work out and they come pay the back taxes you get 8% interest. I buy a lot of cert. in tulsa. 8% is good interest compared to a cd or savings account. just make sure you do a lien search to make sure theres no federal or state income tax liens against it. they take priority over property tax liens.
 

Fyrtwuck

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Well i am a real estate consultant so i can provide you the land in Chicago or in California. Which is not more than enough but this is cheap as well.

Who in their right mind would want to live in Obamaland or in the land of fruits and nuts known as Kommifornia?
 

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