Buying Wetlands

[Audric Fauteux]

There is an opportunity in my state (Massachusetts) to buy a tax foreclosed property which is right on the beach. Unfortunately, it's zoned as wetlands, the only lot on the street that a marsh juts into. A little less than half the property is marsh and there isn't enough area to alter the wetlands and replicate it elsewhere on the lot. Has anyone come across this type of property or does anyone know if buyers will buy this type of property? The taxes owed are under $500, but it's valued at over $20,000. There is still plenty of time for the owners to reverse the foreclosure decision (Massachusetts has a one year time frame for this, pay off the taxes owed and the land is yours again). If I pay the taxes, the owners will sign the property over to me, but I'm wondering if I'll be able to get rid of it or will be sitting on another tax bill for years to come. None of my current buyers want the property, but they are all local in western/central Mass, this property is on the coast.

[Justin Tahilramani]

@Audric Fauteux - Please don't purchase wetlands unless you have an understanding of what can be done with the land. The current owners my be in default on purpose. Replicating wetlands is extremely expensive.