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Buying & Selling Real Estate

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Nick Miller
  • Fort Wayne, IN
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This might be the worst idea ever! what are your thoughts?

Nick Miller
  • Fort Wayne, IN
Posted Apr 30 2014, 08:53

I have a few rentals that I would like to sell but I am not thrilled with the expenses associated with selling a property and the fact that my tenant retention is effected by having properties on the market.

Last fall I went to the Allen County Tax Sale and I was floored by the prices properties were going for. If I understand Indiana tax law correctly the overages go to the owner.

What would be the ramifications for letting my properties go to tax sale? i know I would need to pay the fees and interest if I did not like the price and decided to redeem them but if I could get close to market value plus retain the property and rents for one year after the sale wouldnt this be a good exit stratagy?

Does anyone know the tax ramification, credit ramification and other issues associated with this stratagy?

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