I am in a different state, but I am interest to find out more detail.
1.since owner can have up to 2 years to redeem the property, that means no clear title. so you can not flip the property after 2 years, what about mortgage, can you get a mortgage against it? as I understand, no bank will finance the property without clear title. so is it mean sale must be all cash?
2. you can make 50% return in your investment but can you recover your repair cost or other expense occur from it?
I had heard good and bad story about tax sales. In my state, it is a 2 step processes, first you win the bid on tax sale, owner can have up to 2 years to redeem, after that, since tax lien is a super lien after IRS lien, above all mortgage liens, so you can bring it foreclose to get a clear title.
1.since owner can have up to 2 years to redeem the property, that means no clear title. so you can not flip the property after 2 years, what about mortgage, can you get a mortgage against it? as I understand, no bank will finance the property without clear title. so is it mean sale must be all cash?
2. you can make 50% return in your investment but can you recover your repair cost or other expense occur from it?
I had heard good and bad story about tax sales. In my state, it is a 2 step processes, first you win the bid on tax sale, owner can have up to 2 years to redeem, after that, since tax lien is a super lien after IRS lien, above all mortgage liens, so you can bring it foreclose to get a clear title.
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