Struck Off Properties - Texas
Hi all,
I'm evaluating some struck off properties in Texas, and one in particular caught my eye. The county is asking $32,000 as the minimum bid; the judgment was in 2010, and the property was struck off the tax roll in the same year. The assessment at the time (as now) is $180,000. The entity which held the property (vacant land, zoned residential) had a warranty deed as of 2010.
I'm wondering what potential pitfalls there might be to buying the property outright? It seems to be a great deal - the redemption period has passed, and I understand most liens will have been removed by the tax sale (still plan on doing a title search as part of the due diligence). With the judgment occurring in the same year as the strike off, I doubt there's significant post-judgment taxes owed.
This seems like a great deal overall, but it makes me wonder why this property was passed over during the auction? I'm new at this so any feedback would be tremendously helpful.
Ryan