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Updated over 6 years ago on . Most recent reply

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15
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Keith Hague
  • Rental Property Investor
  • Oak Harbor, WA
4
Votes |
15
Posts

Washington state Tax Deed advice

Keith Hague
  • Rental Property Investor
  • Oak Harbor, WA
Posted
Im looking for advice from anyone who has purchased property from a tax deed auction in Washington state. I have found detailed descriptions of the property through the county websites, including the name of the "taxpayer" as well as a living trust with 4 names on it. I plan to borrow from family and friends to pay the county (if I win the bid) and then do a HELOC on the assessed value, in order to pay off my friends/family. I have to register for the online auction by the end of November so I'm trying to make sure I do everything I should. My Questions: What should I be doing now? How can I view the property when there is potentially a hostile owner about to be kicked out? (The property is on acreage, so a drive by isn't an option without trespassing) How much could I expect the bid to raise in a rural area? I know this is vague but i just want to get a feel for how much higher it might go past the starting 20k bid. (Assesed value is around 300k) Thank you for your time!

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2
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4
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Ty Balascio
  • Investor
  • Monroe, WA
4
Votes |
2
Posts
Ty Balascio
  • Investor
  • Monroe, WA
Replied

Ive bought at many WA tax sales over the years.   There is a 3yr redemption period for minors / mentally incompetent as stated above.  Never heard of a successful case of that happening, but something to be aware of.  The title position is superior to everything except other tax/government liens.  You will have to pay the outstanding water bills if any.  All other private positions are washed out.  If you plan to warrant the deed within the 1st three years, it will be necessary to perform a "quiet title" suit.  Most RE attorneys can help with that.  

For what its worth, the best deals happen before auction for those willing to hit the pavement and talk with the owner.  Good deals which don't get redeemed ahead of time typically result from the inability to access the owner (death / incarceration are the two I see the most).

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