I am looking up information on preliminary tax lien sales. I am able to see the person who owns the property, then I am looking at the GIS for information on assessment and property location. I am hoping to eliminate some of the properties I look up. Here are some questions I have.
I have heard not to mess with Life Estates. Would an owner's name listing "et al" be the same?
What if a property is owned by Freddie Mack? Is the government not paying taxes? Is there a chance it will be redeemed?
What is up with HOA common areas not having taxes paid?
Also, are there issues with a lot that doesn't have a number address listed?
Thanks in advance!
"Et al" just means there are more people on title than can be shown in the field.
Freddie will pay the tax if it wants to retain the property.
Not all properties have a house number... especially those properties without a house! Street numbers are just for information purposes. It's the legal description that matters.
Thanks @Tom Gimer ! I was assuming properties with et al meant several, like heirs, but I see what you mean. If two people have different last names, I guess it would be too much for the field.
The lots with no street number are hard for me to research for this particular county, so I was assuming no street number means landlocked, but may just require more research in different venues on my part.
I own a tax deed house that Fannie Mae used to own. They and banks will sometimes not redeem properties even after they have foreclosed and taken them back.
Look for life estate or "LE". I have one of these too. I was only conveyed the interest that the LE person owned. I think I will be fine but it is complicated and best to stay away from these unless you do more extensive research.
If a lot has never had a house or MH on it then a street adress doesn't get assigned.
@John Underwood thank you for responding. So is there more legal action involved in the Fannie Mae, or is it something you would do again?
I’m finding it very time intensive to figure out if a lot that isn’t numbered is in a good build able location.
You aren’t planning on York County, are you? I would love to tag along.
Normally a bank will give me a release just for the asking but Fannie Mae was a little stubborn. They didn't want the property back but looks like I would have to do a simple Quiet Title if I wanted to be able to sell house for a retail price. I am content to keep renting it for now.
I would definately buy any house that Freddie, Fannie or any bank currently owned. They are likely to redeem them if it is a nice house or if someone is currently living there.
Lots can be tricky. They could be unbuildable for various reasons such as being in a flood plain and a flood way. You should especially drive by lots. They may be on a ravine or have something else going on not obvious from a satellite view or Google street view. See what it has sold for in the past, if it was low there may be a good reason.
I started off buying lots, but now I only buy houses unless it is a 50k lot in a established neighborhood.
If you buy a house you don't have to worry about if the lot is buildable.
No I'm not going to the York County tax sale.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.