All Forum Posts by: Ben Martorano

I am in Illinois, if you would like to talk about working together on some of these, I can look at these in person. I am near the Chicago area.

Melissa, I am assuming you are talking about Streator?

Typically, if the city has a lien on a piece of property (for an unpaid fine), and someone buys the tax deed at the county auction, will they still have to pay off the lien or is it wiped out?

I'm reading you loud and clear. Thanks for the advice

Well it is in an area where the houses are 700k and 1 house would have virtually no backyard without using this land. I could not build anything on it. It is shaped too weird to be buildable.

I am considering bidding on a piece of land at a tax sale. It is in a subdivision and it looks like a piece of land that was at one time a common area (or intended to be). My play would be to buy it and offer it back to sale to either the association or one of the homes that it borders as it would extend or double the size of several back yards. It also looks like there is a small shed partially on it. 

Any questions concerns or pitfalls? Thanks 

I own 2 years of taxes. They are now sending me a tax bill. The redemption period ends in 9 months and I will continue paying taxes through the period.

Just getting educated about the process of buying an "assignable" tax certificate in Illinois and getting a tax deed if the buyer does not redeem. Just had a couple questions I was hoping someone could answer:

1. I know that between 3 and 6 months before the redemption period expires, I must serve all parties with a final take notice that requires that I inform them that a petition for a tax deed has been filed and the court date for that hearing. So I will have to do a title search, pay court filing fees and pay to serve all parties. If they redeem after I do all those things, but prior to the redemption deadline, am I out all those costs or will they get rolled into the redemption amount?

2. As an educational exercise, I went to the courthouse and had them pull files of others who had petitioned for a tax deed. I noticed that a number of these had banks or mortgage companies listed as interested parties. My question is wouldn't the bank just step in and pay the redemption amount rather than lose the asset? 

3. Anybody have an idea on where or how to get the lowest price on title search for the property?

Thanks in advance for your help.