Buffalo Tax Auction on September 25th

10 Replies

Is anyone from the Buffalo NY area attending the Erie County Tax Foreclosure auction coming up? It will be my second time attending but I didn’t purchase anything the first time. I’ve gone through the list and found properties I am interested in. I’d love any tips for bidding and selecting properties at a tax auction. Thanks!

I've always wanted to check it out but never have been able to. What I do know is that the list dwindles down quite a bit last minute for a few different reasons. I hope the ones you've got your eye on go up for sale and I hope you get something good. 

Please keep us posted!

Originally posted by @Ashley Kehr :

Is anyone from the Buffalo NY area attending the Erie County Tax Foreclosure auction coming up? It will be my second time attending but I didn’t purchase anything the first time. I’ve gone through the list and found properties I am interested in. I’d love any tips for bidding and selecting properties at a tax auction. Thanks!

Just wanted to say awesome job on the podcast 

Went to the Lockport Tax Lien Auction this week. Missed on 3 as they were bid beyond realistic pricing. Gone are the days of picking up 2-3. One classic had a $180k Fed Tax Lien on it that went for around $25k & another with an EPA designated lead soil issue (complete with a do not plant vegetables in the backyard warning) & that went for around $4500. Imagine trying to sell that later with full disclosure. Yet another without a roof went for $25.

Another we wanted was also bid too high although it had a lot done to it. Couldn't believe that the arrears owed forcing it into auction were just $3300 ???

Originally posted by @Michael Lina :

Stick to your numbers, property has been going way to high lately

 exactly & remember not if but when the building inspector gets wind of a rehab it will get very expensive if you don't pull permits.

We had a local investor down for 3 months trying to get new handyman installed electric circuits torn out & redone to code.

@Pat L. Thanks Pat for sharing your recent experience! I’d most likely be bidding on properties outside of the city where I know the building inspectors well so I hopefully won’t have any permit issues!

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