Questions about Tax Deed in AR

[Andrew Yu]

So I recently bought a unbuildable lot from auction in AR. It has a down slope full of trees and a small creek running through it as you can see. I really should have done more research before buying it. It will definitely be a hard lesson for me.

My 1st question is how can I sell that lot? Who will be interested? For what purpose? 

2nd question is what will happen to me if I don't pay tax on this unbuildable lot?

3rd question is...Let's assume it's a good buildable lot and it has no other liens. What should I do to sell that lot after receiving my Limited Warranty Deed?

[Joe Mclain]

1) See answer to #3.   You might wan to look at the tax assessed value and give a discount (Make sure you put that in your description when selling.   So lets say the tax assessed value is $1,000 and you sell it for $800.  My guess is you still make money on that.   

2) If you don't pay the tax, then the property will be delinquent and go back to auction.

3) Seth Williams site is great for selling land.   Lots of good links.  He suggests using sites like craigslist, backpage, and postlets for advertising.  I would try those first and then use something like ebay as a backup.

Good luck

Joe