what is the address?

[Tom Yung]

I recently went to a tax deed auction. 

Two incidences popped up. One during the auction & the other after the auction.

Incidence 1). A gentleman(the only one) put it a bid for one property. The tax commissioner happened to stand right besides the auctioneer that time. Before the auctioneer called out "SOLD". 

The tax commissioner stepped in & said"Sir,  Do you know what you are buying?" The gentleman pulled out his smart phone, looked at it & said"It's  a two bedroom house. Isn't it?" . The Tax commissioner did not reply the question directly but said"Do you really want to bid on this parcel, I do not want you to come into my office & cry after. The gentleman replied "Yes, I want to buy this property.  After a pause, this good  tax commissioner finally said" Sir, are you really; really sure you know what you are buying? SILENCE for about 30 seconds. This gentleman finally get it & said "No". This property is condemned & is scheduled to be demolished .

Incidence 2) After the auction, I went to the tax commissioner office & paid for the winning. There was a lady before me. I recognized her during the auction. Her bid never went beyond $25K on most properties & she was very active during the bidding. After I paid. I saw her waiting outside the door for me. I said "Hi & congratulation." She then said " did they give you the address?" I was totally lost for a moment & asked what she meant. She said "Did they give you the address pf your winning BID?" I said " You do not know what you are bidding?"

Then I sat down with her & asked her to give me the parcel #. Very lucky for her. There is at least a building on this parcel 2/1, somewhat run down, older building. So I described the condition of the property to her & what I had observed during my due diligence. She said " That's good, I am going to fix it up a little & use it for rental."

Tax Lien & tax deed investments had attracted so many people(newbies)  in the last couple years. I can see many people will lost their hard earned money.

So a word of caution. DO YOUR HOMEWORK.