In this case you just have to deal with added hassle of long wait times for inspections, crazy accounting, government employee turnover, etc.    

Let's say your seller bought the condo for $75,000 back in 1993, and today it's worth $300,000 - completely fictitious numbers - but go with it...Where I live (in Florida) there is a cap on how much the government can raise your property taxes a year... it's like 3.5% a year of the assessed value.  

Ofgiftedited to add:One other thing:I do not say "will be sold to highest bidder on sunday night"I change the word "sold" to "offered" and that is what is on my print ads.

I assume this is a bank owned (REO) or government owned (e.g.

Why do you think purchase contracts are so long and have such small print?

Why do you think purchase contracts are so long and have such small print?

@Bruce Woodruff waiting on the blue prints to get my exact numbers and budget....

You need to contact the governing body that has jurisdiction over the zoning laws for either the incorporated or unincorporated of the county or city for the plot you are interested in building on.  

they send out governance votes on certain things like sell the property or take a loan against it.

Payments are made by the government via direct deposit on the 1st.