Tax acquires properties

[Jason Lamb]

Hi All, Does anyone have any experience with tax acquired properties? There is a local town that advertised this is the community news paper. I dug into a little bit and there are about 12 properties they are selling for under 100k. Some have stipulations that the buildings be torn down others say they need occupancy permits. On the bid form it says they like to see at least 40% of the assessed town value, minus the back taxes and potential tear down cost. Just curious if anyone has any experience in this and if I should look into it more. From the website it looks like it's sealed bid with 10% of the bid price included with bid. if you do not get the property the check is returned. Thanks