Dental hygienist · Fayetteville, AR · Member since 2015 · 30 posts · 12 votes
I have zero experience in real estate investing but am trying to figure out county tax sale auctions. There are a ton of lots around me that have been vacant for years and some are being auctioned soon. I do know you can't build on one lot because of sewer distance requirements so I'm looking at adjoining lots. Does anyone have any experience (good, bad or ugly) in Barry county, MO? Thanks for your time
Investor · Asheville, NC · Member since 2017 · 506 posts · 404 votes
7y
I have no experience with that area, but noticed no one ever answered this thread, so I thought I would. You probably already figured this out by now, but while tax sales can be a great, they can also be a disaster. In most (or all) places, you can't enter the property, get an inspection, or have much, if any recourse if the property is terrible. In many states, there is a redemption period during which the owner can get the property back and, depending on the state, if you made any improvements, you may or may not get reimbursed.
Tax sale laws vary by state and, IMO, the implementation of such laws vary by county. As it's been several years now since you started this thread, I hope you've found success, if not in tax sales, somewhere else.