Posted by michaela-ATL on August 27, 2005 at 16:33:50:
Bobby,
I’m not an attorney, so, maybe I shouldn’t respond on this board. But I see others write on here, that aren’t either, so…
Do a search under ‘eminent domain’. It’s been discussed. I’ve heard from several people, that if you appeal, they will require 3 appraisals (tax appraisals usually don’t mean a whole lot) and usually you end up getting more than fair value. So, I think you have nothing to lose by appealing. $ 1 is ridiculous.
Ok, How Do I Get Out Of This ? - Posted by Bobby (SC)
Posted by Bobby (SC) on August 27, 2005 at 15:51:31:
I hate long posts…so I’ll be as brief as possible:
Purchased my first “Handyman Special” last year; a 3 bedroom, 1 bath frame house that was built in 1950.
Owner had lived in for 50+ years and had done almost no upkeep; needed a roof, windows, new kitchen…you name it.
Never intended to rehab myself. Been trying to wholesale; had no bites (Neighborhood is rough…small town of 1800+.)
County tax records have it taxed as being worth $21,000.
Only reason that I bought it was that the old house, which was located a block from the high school, had an acre of land ( Worse case, I was thinking of putting a couple of mobile homes on it)
Got notice today that County wants to condemn house and buy from me for $1.00:(
Re: Ok, How Do I Get Out Of This ? - Posted by River City
Posted by River City on August 29, 2005 at 06:11:58:
Are they wanting to purchase just the house or the house and land? If it is for the latter, $1.00 is a ridiculous bid. If it is for the house alone, maybe $1.00 is not so bad as they will have to pay to have the house removed. I would be sure to put in the contract that they “scrape” the lot clean of everything to do with the home. That means leave no bricks, concrete blocks, boards, etc. Then you can do whatever you want with the land as long as the zoning allows.