This might be the worst idea ever! what are your thoughts?

[Nick Miller]

I have a few rentals that I would like to sell but I am not thrilled with the expenses associated with selling a property and the fact that my tenant retention is effected by having properties on the market.

Last fall I went to the Allen County Tax Sale and I was floored by the prices properties were going for. If I understand Indiana tax law correctly the overages go to the owner.

What would be the ramifications for letting my properties go to tax sale? i know I would need to pay the fees and interest if I did not like the price and decided to redeem them but if I could get close to market value plus retain the property and rents for one year after the sale wouldnt this be a good exit stratagy?

Does anyone know the tax ramification, credit ramification and other issues associated with this stratagy?

[Account Closed]

What you are seeing is the power of the auction environment. There are faster, easier and less messy ways than using a tax sale. Check out bid 4 assets and other online auction sites.