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Thread: Tax foreclosure auction questions

  1. #16
    Join Date
    Mar 2018
    Location
    Piercefield, NY
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    1,659
    Here the owner has the right of redemption up to 30 days before the start date of the auction, so it's about 2.5 years from when the first tax bill wasn't paid. Once the property is auctioned it goes to the highest bidder, but people who owe taxes in the county or who are acting as their agents are prohibited from participating in the auction. You have to file a 10 page form, notarized in 3 places, to be allowed to bid. You also have to promise not to sell the property back to the former owner or their relatives for 10 years, at risk of being charged with fraud.

  2. #17
    Join Date
    Sep 2016
    Location
    Modesto, CA, USA
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    9,879
    If you have to call the fire department and see if they will throw their tarp over the roof for a few days. That is something many departments do even if there was no fire that caused the leaks.
    Throw a barbecue for them after the tarping. No cop is going to violate you for being on the property before it is legally yours. But he may stop in to see what is going on and to try a taste. Always good to let law enforcement know to watch your vacant property.
    Bill D
    Bill D

  3. #18
    Join Date
    Mar 2018
    Location
    Piercefield, NY
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    I'll bring my own tarp, in case it rains once I start work. In the terms of the auction it states that possession of the property prior to the deed being recorded is prohibited, and I wouldn't want to jeopardize my bid by doing something illegal. I think tarping it now would be a case of closing the barn door after the camel's nose is under the tent flap, as I would guess it has likely been leaking for years by the look of the shingles.

  4. #19
    Join Date
    Sep 2016
    Location
    Modesto, CA, USA
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    9,879
    My county also allows buy backs for foreclosures for some time. I believe it is one year or so. NO idea if you earn interest or not. But they must pay back full amount and the cost of any improvements. Recommendation is do not do DIY improvements that have low material costs like say painting or gardening you do yourself. Do those that cost in professional labor and materials, like say roofing or an addition or shop. They have to pay for your "cost" in Material and paid labor. Your sweat equity is free for them. if paid back in time.
    Bill D

  5. #20
    Join Date
    Jun 2006
    Location
    The Hartland of Michigan
    Posts
    7,628
    A 12ga slug will open the door for you right quick. Of course it would be a good idea to have a new door ready.

  6. #21
    Join Date
    Mar 2018
    Location
    Piercefield, NY
    Posts
    1,659
    I'm starting to make progress. I just e-signed a fire insurance policy, which can be converted into a homeowner's policy once the repairs are completed and the house is livable. It takes effect right away, according to the very helpful agent I spoke with, and costs less than a dollar a day for a year. I also ordered two new entry door levers on eBay, which should be here in about a week. Apparently it will probably take at least that long for the deed to be recorded so I can go onto the property, according to the helpful person at the county treasurer's office.

  7. #22
    Join Date
    Jun 2012
    Location
    New Westminster BC
    Posts
    2,981
    Seems illogical that the owners of the property, the county, aren't responsible to protect it until the moment the ownership is transferred to you. Hope everything works out for you.

  8. #23
    Join Date
    Sep 2007
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    Longview WA
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    Quote Originally Posted by Doug Garson View Post
    Seems illogical that the owners of the property, the county, aren't responsible to protect it until the moment the ownership is transferred to you. Hope everything works out for you.
    Probably no more responsible than for any other taxpayer owned piece of property within their jurisdiction.

    They will likely respond to any suspicious activity seen or reported. They are not likely to post a guard or maintain surveillance.

    jtk
    "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
    - Sir Winston Churchill (1874-1965)

  9. #24
    Join Date
    Jun 2012
    Location
    New Westminster BC
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    2,981
    Quote Originally Posted by Jim Koepke View Post
    Probably no more responsible than for any other taxpayer owned piece of property within their jurisdiction.

    They will likely respond to any suspicious activity seen or reported. They are not likely to post a guard or maintain surveillance.

    jtk
    So if the house burned to the ground the day after the auction, the county would still receive the full payment from the bidder and turn over a burnt hulk on closing day? Don't they have a responsibility to turn over the house in the same condition it was in on auction day? I think the difference is that this is no longer a taxpayer owned property, the county seized it for non payment of taxes so in essence the county owns it.

  10. #25
    Join Date
    Mar 2018
    Location
    Piercefield, NY
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    1,659
    I imagine that the county would do something if the property was obviously damaged while they still own it, but since I don't know just when the deed will be recorded I figure that starting the insurance right away means that there will not be a time when I am the owner and there is no insurance in place.

  11. #26
    Join Date
    Apr 2018
    Location
    Cambridge Vermont
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    2,282
    Quote Originally Posted by Doug Garson View Post
    So if the house burned to the ground the day after the auction, the county would still receive the full payment from the bidder and turn over a burnt hulk on closing day? Don't they have a responsibility to turn over the house in the same condition it was in on auction day? I think the difference is that this is no longer a taxpayer owned property, the county seized it for non payment of taxes so in essence the county owns it.
    I think the county would just refund the money paid to them. You have to remember that we are talking about a government agency, in this case the county. If it was an asset you or I owned we would be concerned about loss of money. But to the people who work for the county it's not their money. On top of that the country would have to put out money that would need to be budgeted. Right now it costs them nothing so if it doesn't burn down they get a check. if it does the vacant lot will go up for sale in the next auction. Also I'm sure they would drag their feet for a few months making interest from the money they collected.

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