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Updated over 7 years ago, 04/03/2017
Realistic Expectations for Tax Deed Auctions
I've never done a tax sale before. Can you give me a general idea of what kind of deal I'm going to get at a tax DEED sale? I know all the standard stuff applies here: "Every one is different" and "there are no guarantees," etc. But can you get me at least in the ballpark in terms of expectations so I know if I even have the capital to play this game since it is all cash sales?
Hypothetical. House is worth about 200k just based on location and sq footage. Of course, condition is unknown other looking at it from the outside. Taxes owed (min bid) is 10k. Is this thing going to get bid up to like 180k or is it possible to get it for 100k or 50k?
Again, I know every situation is different, so you can save yourself the trouble of typing that. I'm sure somewhere someone got a 300k house for taxes owed. But I'm asking what is typical and likely.