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Updated about 8 years ago,
What should I do?
Hey BP nation, I've been thinking about this for quite a few days. I would like some advice. Ok here's the situation. There is this distressed property one block from me. I walk my dog every day by this property. Well, the area I live in is a very popular area, growing and the city is investing a lot money redeveloping this city park down the street to a high-end shopping, entertainment and restaurant condensed area. For a 2b2b condo it sells for $300+K. There are half-million or million dollar homes on every block. And many new houses or new constructions are here. But this house is not at all well maintained. Tall grass, window unit, looks pretty old (built in 1908), just in a bad shape, comparing to the houses around it, just not "fancy" at all. I looked it up on Zillow, this is a 1bed 1bath 716 sqft and it has a backyard. When I searched it on tax record, it shows the owner is behind on taxes, still owes 2015 taxes. And there's a tax certificate issued for 2015. As a newbie, not very sure what this means. I looked on auction or tax lien website but it's not on there for auction sale. Can the owner still redeem the tax certificate? How can I buy this property if I'm interested? Should I go knock on the door asking if he wants to sell the place or should I send yellow letters? I found out online he's a 63-year old elder. Say if I bought the place, does it mean there's a tax lien on it and someone else can buy it at an auction since it has a tax certificate created? I'm a little confused what I should do here. Any help is appreciated! Thanks!
Lin