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Updated over 7 years ago on . Most recent reply

User Stats

6
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4
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Karl Behnke
  • Investor
  • Saint Louis, MO
4
Votes |
6
Posts

Land Tax Sale legalities - What to expect?

Karl Behnke
  • Investor
  • Saint Louis, MO
Posted

Hello BP,

I am considering a few properties in a upcoming land tax sale. The city is recommending on there website to consult an attorney prior to bidding.

" We strenuously suggest that you consult an attorney before bidding on any parcel of property"

I have never attempted this before, what sort of repercussions should I potentially expect from the purchase of these properties?

Thanks!

Most Popular Reply

User Stats

444
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303
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Anastasia Jordan
  • Investor
  • Birmingham, AL
303
Votes |
444
Posts
Anastasia Jordan
  • Investor
  • Birmingham, AL
Replied

Oh and dont just go to any lawyer. You have to find out who the expert is in your area.  Make sure you understand the laws. Main thing is to know when you can take posession, how long the previous owner has to redeem, and what needs to be done to get clear & marketable title.

Do as much research as you can on the property. Do a site visit and review it as much as possible without violating the law. Do a title search. Do a background check on those who hold title or may have a claim to it. Research permits that have been pulled on the property and those companies.

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