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Updated almost 3 years ago on . Most recent reply

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John Toerner
1
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16
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Land acquired at tax sale. Looking for ideas to develop or sell?

John Toerner
Posted

I acquired about 3 acres of lots at tax sale in a very hot real estate market.  The 3 acres of lots are not contiguous but there are 6 lots that are contiguous where houses can be built on them.  The property in this area was subdivided into lots a long time ago (1950s) but the property was not developed.  As a result, people lost lots at tax sale.  

The problem is that the 6 lots are land locked but there are places to build streets to the property because the subdivision lists the streets.  My 6 lots are located directly behind 3 houses that are on a street.  It would be easy to build a road to the 6 lots because they are not far from the already existing street.  I would just have to connect to the already existing street.  

I think that it would still be expensive to build the street and then build houses on these lots.  Once I build the houses, it may be hard to sell them because title insurance companies won't insure property acquired by tax sale because of potential title problems related to a tax sale.

I am wondering if any has advice as to how I can make this property productive.

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