Buying and/or Selling Tax Certificates/Deeds: Adverse Events
I created this discussion to have a central place to discuss issues from buying and/or selling tax certificates & deeds.
I am being sued (again). I sold a tax certificate and now the buyer is saying they didn't understand what they were buying and thought it was a clear title. Not even sure how that was even possible, as my contract clearly states everything. A small claims suit of $5000 was filed against me. I am not moved. I responded and am ready for battle. My legal team said the case will be dismissed. Even if I lose I am not bothered.
I also bought a deed to a nice 3 bedroom house. Move in ready. 5 days before I got my deed it caught fire. I now own a burnt house. I am actively trying to recoup my loss. I got a couple of interested buyers.
Another tax certificate I got in January the previous owner still has not redeemed. Vandals have gone in and stripped the pipes, wires, and doors. But even in this state the house is still nice! The previous owner told me that he didn't have the money for the back taxes, this year taxes, and wanted to know if I could take over his $40k mortgage. Kill. Me. Now. I gave him until October the 1st to handle this and if he doesn't I will be filing an ejectment suit.