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Buying & Selling Real Estate
HomeForumsBuying & Selling Real EstateAny experience with purchasing from a County Land Bank??
Givonna Wiley's profile image
Givonna Wiley's profile image
Givonna Wiley
  • Homeowner
  • from Streetsboro, Ohio
  • Member since Aug 30, 2014
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Givonna Wiley's profile image
Givonna Wiley's profile image
Givonna Wiley
  • Homeowner
  • from Streetsboro, Ohio
  • Member since Aug 30, 2014
Connect
Givonna Wiley
  • Homeowner
  • Streetsboro, OH
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Buying & Selling Real Estate

Any experience with purchasing from a County Land Bank??

Givonna Wiley
  • Homeowner
  • Streetsboro, OH
Posted Sep 26 2014, 11:17

I found a SF home that I'm interested in purchasing from the Cuyahoga County (Ohio) Land Bank to rehab and sell. The County owns these properties and sells them to recoup the delinquent taxes. The home is in University Heights, Ohio. They want $32,000, estimates $35,000 for repairs and eappraisal.com quotes $98,000 for ARV.

What are the pros and cons for purchasing from a Land Bank?  Would you purchase it?

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