My husband and I wanted to buy property in Oakland County as our primary residence. According to the website it stated that we would have the deed in 30 days. So do I just go to the auction, bid and within 30 days its ours. I know we should do out die diligence and research and drive by. But is there anything else we should know?
[ Edited by jwilso22 on Date 08/10/2007 ]
Yes --- lots of things
Some things to start out with. Read your state statute on tax sales. NO Don't read them--study them. Go to the court house or what ever it’s called up there and get their pamphlet about their tax sale. Read it and ask questions. I have been to Ann Arbor to look at their tax sale and the person behind the counter said they didn’t have any published information on their tax sales. So I picked up the flyer off the counter and told her this was just what I was looking for. So don’t take for granted everything they tell you. Its not that they want to lie to you, sometimes its just they don’t know, or maybe they don’t want to work or maybe … If you are just starting out ACT a little dumb and maybe they will explain things in greater detail. Then again maybe not. Tax sales are really not difficult, at lest here in MO they are not. As you say - do your due diligence. Understand how the system works, ask how you pay, do you have to live in the county, if you don’t live there do you need an agent to bid for you, find out what the procedures are. If I remember right MI is a deed state so you don’t need to worry about owners redeeming the property. If I am mistaken about this then find out about the redemption period. I also believe MI has a summer and a winter sale. One has everything listed and the other has the leftovers. Good luck. I have had lots of fun at these sales. MO is having their sale the 27th of August. I have been to 6 or 7 counties so far looking at their information and trying to locate the properties. You can spend a lot of time but it sure is worth it. One sure fire way of getting a property. Just raise your hand, turn your head and start talking to your neighbor. When the sale is over take your hand down. You surely will have bought something. Again Good luck and have fun. Remember -- there is always next deer season. PS if you ask specific questions I am sure others can give you good advice.