Last month during a routine tax-lien sale in Franklin County, Ohio (home of Columbus) the county treasurer offered 800 properties for sale however no one bought them. The Columbus Dispatch is reporting that the county found a buyer four days later but only after they removed nearly a fourth of the portfolio. In addition, Cuyahoga County (home to Cleveland) suspended its tax-lien sale on 3,500 properties earlier this year after an offer didn’t meet expectations. While there are a lot opportunities in these type of sales, discerning investors know when to buy and when to stay away. In fact:
“Some investors don’t want to bid on tax liens because they end up taking over a lot of questionable properties that have code violations, forcing investors to deal regularly with city inspectors.”
