Tax Deed Auction Questions (New York State)
I am considering purchasing a tax deed property at an upcoming auction in my area (Western NY). I have a couple questions that I am wondering if someone could shed light on.
1. What happens to any existing liens against the property (mortgages, home equity loans, etc)
2. What is required to make the house livable (certificate of occupancy, surveys, etc)
3. Are there any restrictions on sale of a tax deed property
4. Are there any restrictions on taking loans against a tax deed property (home equity line of credit)
These are the major questions that I still have regarding this investment strategy. If someone could shed some light on, or point me in the direction of somewhere I could find the answers it would be greatly appreciated!
Regards!