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Worth It? Maybe, Maybe Not
In response to 141873: thankyou, posted by Laura R2 on Friday, 23 March 2018, at 4:40 p.m.
Aloha Laura, If you have the time and the money it's worth it. You have to be able to have that much cash tied up for a year. If the year passes and the former owner doesn't come forward to pay off the tax plus the 12% penalty, then you have to have the resources to hire an attorney to get the title quieted. This can take up to a year. If people come forward it can cost even more money. So about two years, maybe, to get insurable title. But if you pay, say, $60,000 in back taxes and end up with a $500,000 property, then it's worth it. BTW, if the former owner does come forward with the cash to bail himself out, you get 12% on your money the County has been holding.
Δ Go see Harry Pritikin
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