County land auctions

[First-light]

Anyone have experience with these things? Percentage of value you should bid……..

Thanks FL

[land 1]

im not sure what the percentage u should bid but ive found sometimes theres pieces no one else wants and you get a good deal, and large acres there is normally several bidders but i know a guy who got 2acres bordering state land for 400.00 so you never know

[jperch]

I suggest you do your research and decide what the property is worth to you and what you can afford.  Don't forget about property taxes, which will probably increase after you purchase the property.  In a live auction situation it is likely that the bidding will start with a low ball offer followed by a flurry of small increments.  Don't be too eager early on!  After things slow down make a modest but sizable increase and see where things go.  You just have to remember that if you get the property for anything less than what it is worth to you, and that you can afford, then you should be happy.  If the bidding goes over that, walk away.   This has worked very well for us.  Good luck!  

jperch

[growalot]

Make sure you are not incuring any liens against the property from previous owners...call the county tax office and ask some questions concerning these things. Consider title insuranse as well.

[ATbuckhunter]

My grandparents bought land that way and payed an amazing price. I've always been hesitant to buy land that way since you might have issues with previous land owners. Starting bid should be how much is owed on the land (usually 3 years worth of taxes) 

[First-light]

Thanks all I'll let you know how it goes next Friday!

[Daveboone]

We have gone and participated in several Oswego County auctions. It varies by county, but any properties in Oswego County are owned clear by the county, no liens.

The county clerks office is more than happy to help you look into the hx of any properties, value, etc, and you absolutely should go to any properties and walk them to know what you are getting into. of course you cant enter any secured buildings.

There is no minimum bid, and amazing values can be had, but don't be surprised by some aggressive bidding. A property we thought we would walk away from was quickly way out of our bid range by double, The neighbor wanted, and was going to get..the property.

[First-light]

1 hour ago, Daveboone said:

We have gone and participated in several Oswego County auctions. It varies by county, but any properties in Oswego County are owned clear by the county, no liens.

The county clerks office is more than happy to help you look into the hx of any properties, value, etc, and you absolutely should go to any properties and walk them to know what you are getting into. of course you cant enter any secured buildings.

There is no minimum bid, and amazing values can be had, but don't be surprised by some aggressive bidding. A property we thought we would walk away from was quickly way out of our bid range by double, The neighbor wanted, and was going to get..the property.

This property has had my eye on it for a while. I know it well and hopefully can make a winning bid without breaking the bank.

[First-light]

Property will be withdrawn this week, taxes were paid. In a way I'm glad it can wait.