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Bruce Lynn's profile image
Bruce Lynn's profile image
Bruce Lynn
  • #2 Real Estate Agent Contributor
  • Real Estate Broker
  • from Coppell, TX
  • Member since Feb 1, 2011

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Bruce Lynn's profile image
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Bruce Lynn
  • #2 Real Estate Agent Contributor
  • Real Estate Broker
  • from Coppell, TX
  • Member since Feb 1, 2011
Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
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Tax Liens & Mortgage Notes

Rhode Island working to ban online tax sales and return to in-person sales only.

Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
Posted
https://www.housingworksri.org/news/projo-should-ri-tax-sales-be-for-locals-only-bill-seeks-to-reduce-out-of-state-competition

Not everything online works the way you think it might.  While I expect the bids might be higher and more profitable for the taxing entities, sometimes having lots of out of state investor owners does not do well for the property maintenance and upkeep.   Guess they have now figured that out and reverting to the old system or working that direction.

Providence, Rhode Island
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John Underwood
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied
Quote from @Bruce Lynn:

Not everything online works the way you think it might.  While I expect the bids might be higher and more profitable for the taxing entities, sometimes having lots of out of state investor owners does not do well for the property maintenance and upkeep.   Guess they have now figured that out and reverting to the old system or working that direction.


 I bet a lot of these online bidders never look in person at what they are bidding on and lots of these properties make their way back to future auctions.

If my local auctions went online I would probably stop participating in these auctions.

  • John Underwood
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