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multiple tax sales/redemptions?
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Posted by conchitaFL (My Page) on Thu, Jan 26, 12 at 13:04
| Although I've mostly been looking at townhouses, I just saw a little old fisherman's cottage that I think has possibilities.
However, I notice when I look at the tax history that the tax certificate was sold/redeemed several times after the insane sale price it managed in 2006. (It's currently on the market for an asking price of less than 10% of that.)
Aside from the fact that it means the house would have been neglected for a very long time (the 2006 buyer was a major developer planning to use the land as part of a new luxury development that never happened), is there anything else I would need to be wary about here? It's finally being sold as a regular foreclosure. That's all that matters at this point, right, as long as the title is clear? |
Follow-Up Postings:
RE: multiple tax sales/redemptions?
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| Make sure you get an owner's title insurance policy. The lender's policy will be required if you have a note on the property, but it only protects the lender. |
RE: multiple tax sales/redemptions?
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| Thanks, brickeyee. Not sure yet whether it's worth it or not--I need to get an opinion on the state of the roof, for one thing. |
RE: multiple tax sales/redemptions?
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| If this is in Florida at least freeze damage is a little less likely. Watch out for it though. The water may not be on. And DWV pipes freeze and break also. |
RE: multiple tax sales/redemptions?
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| Thanks again. Even if I wind up with a townhouse I'm figuring on repiping and rewiring whatever I get. |
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