Why is this piece of land so cheap?

[Frankie Torres]

Hey BP,

  I was scrolling through the foreclosure listings and stumbled upon a piece of bank owned land asking $120. The land didnt get sold during the foreclosure process, and has been on the site for over 400 days. What are some things I need to look out for in order to not fall into any traps such as liens on the property etc. ? Why could it be so cheap??

Property Information

• Price: $120
• Lot Size: 31798.00 SF
• Day(s) On Site: 425
• Tax Year: 2016
• Parcel Number: 087258.1436
• Property Tax: $65
• Property Type: Land