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Updated almost 3 years ago on . Most recent reply

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Jacob D Adamczak
  • Charleston, SC
72
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176
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County Owned Property- How/why?

Jacob D Adamczak
  • Charleston, SC
Posted

I was driving for dollars and saw a house that had the windows boarded up in a neighborhood and thought that would be a great property to add to my list.  However, when I checked the tax records to find the owner, it said the county owned it and purchase price was over 2 million dollars.  The value is only about 150k and the county doesn't own any of the surrounding property or land which leads me to believe its not eminent domain.  Its in a subdivision so it wouldn't be something they would purchase to construct a county building etc.  My question is, why/how does the county own this? Any way for me to try to purchase it? Very confused as to whats going on. 

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Kevin Sobilo#3 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Hanover Twp, PA
3,251
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Kevin Sobilo#3 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Hanover Twp, PA
Replied

@Jacob D Adamczak, It does seem odd for the county to own it. Usually at the county level they don't get directly involved in trying to fight blight in neighborhoods.

It could be they ended up with the property as part of a larger purchase of multiple properties from the same seller. So, maybe they didn't intend to buy it but got stuck with it in a way. Often that explains a high purchase price because the price reflects the whole transaction and sometimes ALL of the properties are transferred using one deed. 

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