Chautauqua County Tax Auction 2008!

Well, I just drove around looking at some of the properties that will be going up for auction on September 27th 2008. If you have ever wondered whether a tax auction is worth it, I thought a few comments would be interesting.

First, you need to decide if you want to take the risk. For this tax auction the risk I think is low. The county has cleared all debt and liens. You still get the 30 days to do your title search. However if you want out you do lose your deposit, fairly standard.

Next issue is cash flow. Make sure you have the cash. Financing for most of these properties is not likely.

Other issues? Yes. If anyone is living in the dwelling you need to get them evicted after the sale closes. Then of course there are the probable repairs.

If you are a contractor looking to flip a property this may be the way to go. Also, this year there are a couple of larger offerings. As an example on is 22 acres.

If you would like more information check out these links.
http://www.co.chautauqua.ny.us/finance/property/propertyframe.htm
http://findleylake-property.com/tax-sale/

If you are in the Jamestown area and have any specific questions you can email me through my profile link.