This is Going to Suck Putty Balls

[Mark K]

These appear to have been abandoned for decades. One is 350 Sf and the other 510 SF, only 2 blocks from the county courthouse.

Unless the land is worth more than the cost to demo, looks like a negative value.

I've never turned in a negative value but I have turned in $0 on a few occasions.

Guy apparently liked to go to tax auctions to buy these.

And probably the best route for the heirs would be to ignore some of them and let them go back to the county for taxes. Let another sucker, I mean astute investor, buy them.

 

[Terrel L. Shields]

Unless the land is worth more than the cost to demo, looks like a negative value.

The lot will be worth six figures or very close.

I mean astute investor, buy them.

Could be true for a couple of the properties - the landlocked one in particular.

I have a similar problem in that I have 3 lots in Colorado that might be worth $2k each...but by the time I file the death certificate and probate his estate, that may get ate up. If so, I will just let them go back to the county. (A cousin's husband bought at tax sale when he was buying a mining claim at the tax auction and didn't place his wife's name on the deed. He's died. She handed these off to me (i'm in charge of her irrevocable trust.)

 

[Terrel L. Shields]

you feel it's necessary, request a survey of the property to be appraised.

The county ex'd them out, damifino why. I suspect it was taken for a road widening or sold on a scrivener's error. It happens. I know a tract that was sold by the county the year it was bought and should never have been in the tax sale as taxes were paid. But it had to go before a judge to reverse the purchase. The "buyer" refused to simply settle for getting his money back. Lucky him. The court corrected the error, and the buyer had to eat the money he paid for it. The county refused to refund his money, and the actual owners owed him nothing.

 

[glenn walker]

The lot will be worth six figures or very close.

Could be true for a couple of the properties - the landlocked one in particular.

I have a similar problem in that I have 3 lots in Colorado that might be worth $2k each...but by the time I file the death certificate and probate his estate, that may get ate up. If so, I will just let them go back to the county. (A cousin's husband bought at tax sale when he was buying a mining claim at the tax auction and didn't place his wife's name on the deed. He's died. She handed these off to me (i'm in charge of her irrevocable trust.)

We sold low to Zero value lots on E. Bay for estate's and others where the cost to appraise in most cases would have been 50% of the value. We did Full discloure most not accessible except on pack mules....no utilities...no surveys..

They did have county assessors plat maps. We called them ******* subdivisions where 80 years ago county would approve plat maps on sides of mountains or 100 miles in the miiddle of deserts etc. Sold over 50 in one year.

The ones over $3 000 we took $1,000 down and carried land contracts for 8 years at 10% interest. Many default and you take back and sell it again. We even took Visa and Mastercard...own a lot put it on your visa card.

Remenber Everyone wants to say they own land even if its worthless if they can get it real cheap with little down.

Those, $500 to $ 2,000 lots on E Bay type platforms sell like hot cake's...one estate attorney told me i was a genius and that he advised most clients to let go back to tax sales but we became his firms go to guys.

POINT IS rarely today there is no such thing as a Zero value lot or land it's just 95% of appraisers and brokers didn't realize the internet changed all that.

If i was Terrill I would consider these types of properties as hidden gems. Buy them at 20 cents on the dollar or many people will gift them to you....lol

 

[Terrel L. Shields]

consider these types of properties as hidden gems.

The only one that is really unreadable yet is the landlocked parcel - really bizarre. I cannot imagine how it happened.

 

[Mark K]

The only one that is really unreadable yet is the landlocked parcel - really bizarre. I cannot imagine how it happened.
View attachment 97658

Who has been maintaining it, if anyone? If so, for how long and could there be an adverse possession issue?

 

[Terrel L. Shields]

If so, for how long and could there be an adverse possession issue?

Could be but they have paid the taxes according to the records.

 

[Mark K]

Could be but they have paid the taxes according to the records.

Makes no difference in this state. If the neighbor has been using the landlocked parcel for the statutory time frame, 10 years in this state, and the owner hasn't attempted to prevent the usage, the neighbor will have a very good claim for adv. poss. The act of paying taxes doesn't negate an adv poss claim.