The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MSI who wrote (7960)	1/7/2003 3:17:22 PM
From: GraceZ	Read Replies (1) of 306849

My first reaction was think he was incorrect yet when I looked at the tax sale page for Baltimore City (they auction off a lot of property in the city) it states that the home has to be vacant and abandoned to be auctioned. Unfortunately there is a lot of that kind of property, as well as just tax delinquent properties. It used to be if you bought the certs you'd get interest 2 points below what the city collected (18% and you'd get 16%)or you'd get the house. It seems they've discontinued that program. cityservices.baltimorecity.gov EDIT: I read it wrong. Investors buy the cert (A cert is the back taxes and liens), then if the property is vacant and abandoned then you can forclose and get title after three months, but the original owner can come forward pay your expenses and 18% and get the property back. If it's not vacant then the person buying the cert has to hold it six months before filing for a deed....but the original owner can pay the 18% to the person who bought the cert to keep them from forclosing and taking your property and redeem the certificate.

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