All Forum Posts by: Ty Balascio

A fixer at aution will sell for 50c-75c on the dollar compared to listed.  Raw land can be 30c.  Never met the owner of raw land for a presale.  Since the owner gets any overage past the tax/legal bill, its a gamble.  If someone has a decent property they will be better off to list.  If theyre underwater then the 1st position lenholder will rescue it.  There were serious deals back in 2010 when banks couldnt keep up with the mess.  The best presale deal is the person who is one week away from the auction.  The risk is that a good deal might be approached fast, So a gamble for you.

Some counties provide title insurance now which will increase the interest.  All counties require cash right away.  This isnt a path for hard money lenders.  The owner has 20 days to vacate. 

Ive bought at many WA tax sales over the years.   There is a 3yr redemption period for minors / mentally incompetent as stated above.  Never heard of a successful case of that happening, but something to be aware of.  The title position is superior to everything except other tax/government liens.  You will have to pay the outstanding water bills if any.  All other private positions are washed out.  If you plan to warrant the deed within the 1st three years, it will be necessary to perform a "quiet title" suit.  Most RE attorneys can help with that.  

For what its worth, the best deals happen before auction for those willing to hit the pavement and talk with the owner.  Good deals which don't get redeemed ahead of time typically result from the inability to access the owner (death / incarceration are the two I see the most).