Any advice re: county tax deed sales

3 Replies

County owns a run down, late nineties built, property and has listed it on the County Clerk website under "Notice of County Real Estate (Tax Deed) Sale".  The minimum bid is $27K and before it was abandoned, about 7 years ago, it was appraised at $185K.  This property is in really bad condition and needs extensive exterior and, presumably (boarded up - can't see inside), interior work to bring it up to move in condition.  I think this could be a good rental home if could be renovated for $50K or less and have good equity.

The County Clerk's website says the winning bidder is not responsible for back taxes and then immediately says, "Current property taxes and special assessments, charges, and taxes may be the responsibility of the successful bidder".  What are "special assessments, charges, and taxes"?  What taxes are there other than the property taxes?

Any advice or warnings from others in Wisconsin, or elsewhere, would be helpful.

Thanks in advance, Tim.

Did you look up the tax bill from last year?   It would state if there was a balace from previous years.

In Indiana the taxes prior to the tax sale date go away, but the taxes from that date stay.  In Michigan the fall taxes are due at the time of the sale so you have to pay those.  I also have had to pay past municipal water bills on properties.  I imagine most states are similar with some differences just to make it harder on us.  :)

Thanks for the replies.

The tax bill shows "special assessments" for the the last 6 or so years that maybe total $2000 tops. Any other surprises I should be aware of if I were the winning bidder? The county currently owns the property so do I still need to research title for liens?

Any ideas about what a winning bid would be given the facts in my original post? House is about 1500 sq.ft. on .9 acre lot.

Also, as mentioned above, this needs extensive exterior and interior repairs. Exterior: new siding, soffit, fascia, window glass, front door, other. Interior: haven't been inside, but probably - plumbing, carpet, vinyl flooring, drywall, paint, possibly mechanicals and more. There is a large broken window so I'm sure there has to be some interior water damage.

I don't have any experience estimating repair costs. Has anybody rehabbed a property in this condition? Was was your experience/cost? Will $50K be enough? 

Thanks again, Tim

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here