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Updated 14 days ago on . Most recent reply
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City worker who can purchase properties for half off on land bank
Hey guys if a city worker who can buy properties for half off on the land bank as part of there benefits would it be worth it. A city worker who's also a real estate agent
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- Real Estate Consultant
- St. Louis MSA
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Quote from @Cameron Porter:
Hey guys if a city worker who can buy properties for half off on the land bank as part of there benefits would it be worth it. A city worker who's also a real estate agent
Hey @Cameron Porter! An important question to ask is, "Half off of what price"? In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable.