Wednesday, December 1, 2010

Tax delinquent properties

In the Thursday edition of The Oakland Press, Oakland County will publish a 60-page list of properties that are three years overdue on their taxes.

The county has 10,000 properties that are significantly past due on taxes. The parcels that are still overdue by next August will be put up for public auction. According to Oakland County Treasurer Andy Meisner, the list will drop to some 2,000 properties by then.

However, the list is still unusually large and is the direct result of the bad economy.

And, as there are many people buying foreclosed properties right now trying to get a bargain, there will also be many people lured by this auction of thousands of properties. Some 300 bidders showed up at the last auction. There may be twice that number at this one.

Keep in mind that if you do want to participate, you should do your homework and check out properties you wish to bid on. And you will have to have a certain amount of cash to participate.

It is not a quick process, nor is it easy. But the chances of getting a real deal on property probably have never been better.


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