All Forum Posts by: Tom Chen

@Bill F.  in SF there is precedence for this.. I remember a case back in the late 70s early 80s were someone bought a home in SF at tax sale.. for lets say 20k and it was worth 400k.. remember SF prices have always been pretty strong.

well it was a little old lady of course .. and the sup's with public pressure did the same thing and over turned it..

AS long as an action is taken within one year of the sale they can get overturned.. we bought a church property one year at tax sale and we lost it.. got it overturned at court..

And here in Oregon sup's can also over turn a tax sale friend of mine did that last year

this one even gets better.. the tax sale of course wiped out the mortgage.. then my buddy helped these people appeal to the sups who granted it and deeded the house back to them.. San's the mortgage.

you live long enough in this business to see all sorts of weird stuff.

I just bought  a property in Washington last year were the bank waited to long to foreclosure and just deeded the property to my seller.. weird but it happened.. had never seen that before either.

A potential cash buyer wants to know my assignment fee. I usually double close. Should I tell him?

 I was thinking the same but I don't want to screw things up with this deal.

@Tom Chen I read abut this when it first hit the news earlier this year. Terrible to see it play out this way. I was rooting for them, even though it was an uphill battle. They 100% bought the street fair and square though a tax sale. It shows what knowledge, diligence, and patience can get you. Not going to lie, made me do and see what, if any, goodies were for sale in cities around me. I can sadly report, I didn't find any streets available. 

The Board of Supervisors punted this one and should be ashamed, but I have a feeling either it will be over turned on appeal or settled out of court. I hope everyone who has lost property in a tax sale files to have the sale overturned by the Board of Supervisors and when they fail to hear their case, they get sued 10 ways to Sunday. If you do it for one you should do it for all.

From what I have read, I don't think the facts merit an accusation of race/ethnicity discrimination though. Anyone who bought this property would have faced the same backlash. Its more of an issue about different laws and benefits depending on who you know.

I haven't found out if the Michael and Tina got their money back with or without interest? Something tells me the city didn't pay them any interest...